Agricultural Terms 

Some of the definitions in this glossary were extracted from the Chicago Board of Trade Commodity Trading Manual, available on their website: www.chot.com.  Other definitions were obtained from literature provided by the USDA Farm Service Agency.  Still other definitions were devised by staff of AgriWellness, Inc.

Suggestions for additional terms for this glossary are welcome.

AI - Artificial Insemination involves the fertilization of ova in an animal such as a cow by introducing sperm which has been collected from the male of the species and which is deposited through a tube into the uterus by a trained technician or farmer.

Barrow - A male pig that has been castrated.

Basis - The difference between the current cash price and the future price of the same commodity.  Unless otherwise specified, the price of the nearby futures contract month is generally used to calculate the basis.

Broker - A company or individual that executes futures and options orders on behalf of financial and commercial institutions and/or the general public.

Buffer Strip - Also known as a filter strip, a buffer strip is vegetation, usually grasses, which is planted alongside streams and varying in width from 30 to 100' or more, to help curtail fertilizer, pesticides, manure and other undesirable substances from readily flowing into waterways.

Buying Hedge - Buying futures contracts to protect against a possible price increase of cash commodities that will be purchased in the future.  At the time the cash commodities are bought, the open futures position is closed by selling an equal number and type of futures contracts as those that were initially purchased.

CAFO - Confined Animal Feeding Operation, also known as concentrated or consolidated animal feeding operation; CAFOs produce livestock in confinement buildings or feedlots.

Call Option - An option that gives the buyer the right, but not the obligation, to purchase the underlying futures contract at the strike price on or before the expiration date.

Carryover - Grain (e.g., wheat) and oilseed commodities (e.g., soybeans) not consumed during the market year and remaining in storage at year's end.  These stocks are "carried over" into the next marketing year and added to the stocks produced during that crop year.

Cash Contract - Contract for the purchase of grain, usually from producers, by brokers or elevators guaranteeing a specific number of bushels.

Commodity - An article of commerce or a product that can be used for commerce.  In a narrow sense, products traded on an authorized commodity exchange.  The types of commodities include agricultural products, metals, petroleum, foreign currencies, and financial instruments, to name a few.

Commodity Credit Corp. (CCC) - A branch of the U.S. Department of Agriculture, established in 1933, that supervises the government's farm loan and subsidy programs.

Cow - A bovine that has given birth to at least one calf.

Cow-calf Operation - The production of cattle or beef with a herd of cows which are bred and produce calves.  Usually the calves are sold to a feedlot operator for fattening.

CRP - Conservation Reserve Program offered by the United States Department of Agriculture (USDA), which involves planting land that is subject to erosion or along waterways such as creeks and rivers in prairie grasses and other approved crops which are not harvested; the CRP program is a minimal 10-year program which pays the farmer incentives to keep the land out of production and in compliance with approved conservation practices.

EPS's - Expected Progeny Differences are statistical calculations of improvements or deductions contributed by a sire to his offspring in comparison to the breed average.  For example, a bull with a yearling weight of +5 produces calves which weigh five pound heavier on average than all other known calves sired by other bulls of the same breed at precisely one year (365 days) of age.

Farrow - A term which refers to the birthing process of pigs.

Farrow-to-Finish Operation - The production of swine which involves maintaining a herd of sows to produce pigs, which are then raised to market size and sold by the same farm.

Filly - A female horse that has not given birth to a colt.

Forward (Cash) Contract - A cash contract in which a seller agrees to deliver a specific cash commodity to a buyer sometimes in the future.  Forward contracts, in contrast to futures contracts, are privately negotiated and re not standardized.

FSA - Farm Service Agency offices operated by the USDA to assist farmers with federal government programs such as crop insurance, incentives to install conservation practices such as terraces and filter strips along waterways, the Conservation Reserve Program (CRP) and other federal programs.

Futures Contract - A legally binding agreement, made on the trading floor of a futures exchange, to buy or sell a commodity or financial instrument sometime in the future.  Futures contracts are standardized according to the quality, quantity and delivery time and location for each commodity.  The only variable is price, which is discovered on an exchange trading floor.

Gilt - A female pig that has not yet given birth to piglets.

GMO - Genetically Modified Organisms. A genetically modified organism is an organism such as plant or animal, with an artificially modified genetic make-up.

Greensnap - A condition in which corn stalks bread, due to high wind, when the corn plant is growing very quickly and is immature and vulnerable, usually around the time of pollination.

Hedging - The practice of offsetting the price risk inherent in any cash market position by taking an equal but opposite position in the futures market.  Hedgers use the futures markets to protect their business from adverse price changes.  Selling (Short) Hedge - Selling futures contracts to protect against possible declining prices of commodities that will be sold in the future.  At the time the cash commodities are sold, the open futures position is closed by purchasing an equal number and type of futures contracts as those are initially sold.  Purchasing (Long) Hedge - Buyer futures contracts to protect against a possible price increase of cash commodities that will be purchased in the future.  At the time the cash commodities are bought, the open futures position is closed by selling an equal number and type of futures contracts as those that were initially purchased.  Also referred to as a buying hedge.

Heifer - A female bovine that has not yet given birth to a calf.

LDP - Loan Deficiency Payment, which is the difference between the county loan rate set by the USDA and the posted county price of the crop.  These may change on a daily basis.  The Commodity Credit Corporation may pay this to the farmer for the bushels of grain that have been produced and before they are sold in order to guaranteed a minimal price for the commodity, such as corn.

Loan Rate - The amount lent per unit of a commodity, such as bushels of corn, to farmers, usually by the Commodity Credit Corporation.

Long Hedge - Buyer futures contracts to protect against a possible price increase of cash commodities that will be purchased in the future.  At the same time the cash commodities are bought, the open futures contracts as those that were initially purchased.  Also referred to as a buying hedge.

Mare - A female horse that has given birth to at least one colt.

Margin - Financial safeguards to ensure that clearing members (usually companies or corporations) perform on their customers' open futures and options contracts.  Clearing margins are distinct from customer margins that individual buyers and sellers of futures and options contracts are required to deposit with brokers.  Within the futures industry, financial guarantees are required of both buyers and sellers of futures contracts and sellers of options contracts to ensure fulfilling of contract obligations.  Margins are determined on the basis of market risk and contract value.  Also referred to as performance-bond margin.

Margin Call - A call from a clearinghouse to a clearing member, or from a brokerage firm to a customer, to bring margin deposits up to a required minimum level.

Monopoly - Exclusive control of a commodity or service by sellers which makes possible the fixing of prices and the virtual elimination of free competition.  Usually monopoly results in unfairly high prices demanded by the seller(s).

Monopsony - Exclusive control of a commodity or service by buyers which lead to control of the market and the fixing of prices by virtual elimination of free competition from other buyers.  Usually monopsony results in unfairly low prices paid by the buyer(s).

Option - A contract that conveys the right, but not the obligation, to buy or sell a particular item at a certain price for a limited time.  Only the seller of the option is obligated to perform.

Put Option - An option that gives the option buyer the right but not the obligation to sell (go "short) the underlying futures contract at the strike price on or before the expiration date.

Scours - Diarrhea in livestock caused by an intestinal infection.

Shipping Fever - A respiratory disease of cattle involving coughing, nasal discharge and general malaise which is usually spread during the shipment of livestock.

Short Hedge - Selling futures contracts to protect against possible declining prices of commodities that will be sold in the future.  At the same time the cash commodities are sold, the open futures position is closed by purchasing an equal number and type of futures contracts as those that were initially sold.

Spread - The price difference between two related markets or commodities.

Stallion or Stud - A male horse, usually of sufficient maturity to successfully breed a female horse.

Steer - A male bovine that has been castrated.

Strike Price - The price at which the futures contract underlying a call or put option can be purchased (if a call) or sold (if a put).  Also referred to as exercise price. 

Yearling - An animal such as a bovine or horse that is approximately on year old and not yet mature.

Behavioral Health Terms

Addictions Counselor - May be trained at the bachelors, masters or doctoral levels, usually in counseling, prevention, diagnosis and treatment of addictions, such as substance abuse (drug abuse, alcohol abuse, abuse of prescribed medications) and gambling.  Certified addictions counselors may diagnose and treat addictions.

Authorization - Written permission to authorized the release of information that is otherwise usually confidential to specific individuals and/or agencies, for a specific purpose and timeframe (i.e., usually one year from the date of approval).

Behavioral Healthcare - Includes treatment for mental health conditions, substance misuse and other addictions; treatments such as psychotherapy, psychiatric medications, support groups, etc., for these behavioral disorders are referred to as behavioral healthcare services.

Consent for Treatment - The approval or consent of an individual, or in the case of a minor-aged child or incapacitated adult, by an approved representative to undertake treatment procedures.

CPC Administrator - Central Point of Coordination Administrator in each Iowa county; this person is usually appointed by the county board of supervisors to manage the mental health/developmental disability budget for the county and to ensure that all county citizens have access to necessary services for their mental health, substance abuse, mental retardation or developmental disability.

DSM-IV - The Diagnostic and Statistical Manual of Mental Disorders, (4th Ed.), published by the American Psychiatric Association which lists diagnostic criteria for behavioral disorders, including symptoms and commonly used code numbers.

Health Care Professional Shortage Area - Regions of the country, usually rural areas, in which the number of available health care professionals such as family doctors, dentists and mental health professionals per 100,000 persons are well below the national average.  The determination of health care professional shortage area is made by state and federal officials.  These areas are deemed "underserved" in the field, such as mental health, where there is an undersupply of available health care professionals to deliver service.  Through the National Health Service Corps, licensed mental health care professional may receive inducements, such as repayment of education loans, to practice in a designated mental health care professional shortage area.

Licensed Marriage and Family Therapist - Individuals who have completed a minimum of a masters degree in individual, marriage and family counseling techniques and have passed a licensing examination to practice in the field.

Licensed Mental Health Counselor - Individuals who have completed a minimum of a masters training program in counseling and human service and have passed a licensing exam in mental health counseling.

Psychiatric Nurse Practitioner - Nurses who have completed a masters degree in psychiatric nursing and, in some states, may be licensed to prescribe psychotropic medications.

Psychiatry - Treatment for mental health disorders by a psychiatrist.  A psychiatrist is a medical doctor or doctor of osteopathy who has completed a residency in psychiatry.  Psychiatry usually involves the use of psychotropic medications to treat symptoms of behavioral disorder.  Licensed psychiatrists may diagnose and treat behavioral health disorders.

Psychology - The science and study of behavior.  Psychologists usually complete 4-6 years of graduate study, leading to the Ph.D. or Psy.D. degree, followed by an internship.  Psychologists usually treat behavioral health disorders through psychotherapeutic techniques, and some psychologists are licensed to prescribe psychotropic medications in states where this practice is approved.  Licensed psychologists may diagnose and treat behavioral health disorders.

Psychotropic Medication - Drugs and medications prescribed for the purpose of altering behavior.  For example, antidepressant medications are psychotropic drugs designed to alleviate depression.

Primary Symptom Bearer - The member of a family or system whose symptoms are most noticeable and serious.  Usually the primary symptom bearer is the family member whose diagnosis is indicated on the insurance claim form.

Social Work - A human service field which may involve specialized training in social welfare, individual, family, group and community mental health services.  Social Workers may be licensed at the bachelor or master degree level.  Licensed social workers may diagnose and treat behavioral health disorders in states where permitted.