Basis Level [Agricultural Marketing Service] Law and Legal Definition

According to 7 CFR 59.30 [Title 7—Agriculture; Subtitle B -- Regulations of the Department of Agriculture; Chapter I -- Agricultural Marketing Service H1 (Standards, Inspections, Marketing Practices), Department of Agriculture; Subchapter C -- Regulations and Standards Under the Agricultural Marketing Act of 1946 and the Egg Products Inspection Act - Part 59 -- Livestock Mandatory Reporting; Subpart A -- General Provisions], basis level means “the agreed on adjustment to a future price to establish the final price paid for livestock.”