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There is no difference. For the most part it is just a marketing gimmic.
A cochin bred to the standard will be a GIANT. I have several show quality cochins that I call my giants, but not when selling. When I sell eggs from them I specifically point out which birds are in with my SQ black Roo. I do have a couple that I would not show in there, but always let folks know. I just don't see the point in trying to deceive a customer about the quality of the birds that the eggs are from.
In with the laying flock a have a hand full of pet quality cochins and a couple hatchery cochins that I call standards. They are NOT used for breeding, just big ole pets that enjoy the good life.
Matt