CME Feeder Cattle Futures & Options Trading

Free Feeder Cattle Futures Trading Guide

Feeder Cattle Futures News

CME Feeder Cattle Futures & Options Trading

 

 

Daily Livestock Report

Electronic Trading of Livestock with Ken “Woodie” Wood

Introduction to Cattle Feeding Spreads Article (PDF)

Feeder Cattle Chart book

feeder cattle futures commodity

Feeder Cattle Futures

There are two types of cattle traded at the CME: Live cattle and feeder cattle, so we have to differentiate the two. Live cattle futures are considered cattle from the calf stage to the point when they reach about 600 to 800, which takes about six to ten months. At this point, they are transferred to feedlots and they will be considered feeder cattle at this point. They remain on the feedlots for about another five months where they will put on about another 500 pounds. Here, they meet their fate and become slaughtered. The average slaughter weight is about 1,250 pounds and a dressed carcass weight is about 750 pounds. The seven major cattle producing states are Arizona, California, Colorado, Iowa, Kansas, Nebraska, and Texas. Cattle are usually fed corn, milo and even wheat if the price is cheap enough. The protein end of their diet usually comes from soybeans. They are also fed roughage like hay and alfala.

Contract Specifications

Contract Size 50,000 pounds (˜23 metric tons)

Product Description 650-849 pound steers, medium-large #1 and medium-large #1-2

Pricing Unit Cents per pound

Tick Size (minimum fluctuation) $.00025 per pound ($12.50 per contract)

Daily Price Limits $.03 per pound above or below the previous day's settlement price

Trading Hours
(All times listed are Central Time)

CME Globex (Electronic Platform) MON 9:05 a.m. - FRI 1:55 p.m. Central Time

Daily trading halts 4:00 p.m. - 5:00 p.m. Central Time

Open Outcry (Trading Floor) MON-FRI: 9:05 a.m. -1:00 p.m. Central Time

Last Trade Date/Time

View Calendar Last Thursday of the contract month with exceptions for November and other months, 12:00 p.m. - See CME Rule 10202.H. 

Contract Months

View Listings Jan, Mar, Apr, May, Aug, Sep, Oct, Nov

Settlement Procedure Daily Livestock Settlement Procedure (PDF)

Final Feeder Cattle Futures Settlement Procedure (PDF)

Position Limits Non-Spot: 1,950 contracts in any contract month

 Spot: 300 contracts

 All months combined: n/a See CME Rule: 10202.E  

Ticker Symbol CME Globex (Electronic Platform) GF
62=Clearing

Rulebook Chapter 102 

Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.

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