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TeachMeFinance.com - explain Production contract Production contract The term 'Production contract ' as it applies to the area of agriculture can be defined as ' These contracts specify who supplies the production inputs, the quality and quantity of the commodity to be produced, and the compensation for the producer. Under some livestock production contracts, the farmer is paid to provide housing and care for the animals until they are ready for market, but the contractor actually owns the animals. In 1997, according to the USDA, about 70% of the value of poultry production was under production contracts, 33% of hogs, and 14% of cattle. See marketing contract'. Previous 5 Terms: product Product Number Product Resolution Production Production capacity Next 5 Terms: Production costs Production Credit Association (PCA) Production expense Production expenses Production expenses About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.