Feeder Cattle Futures

QUOTE AND NEWS
Financial Times  May 27  Comment 
US lean hog prices up 37 per cent in the year to date, while the price of CME feeder cattle close to record highs, up 16 per cent in the year to date
Southeast Farm Press  Nov 18  Comment 
By Andrew Griffith, Agricultural Economist, University of Tennessee Demand for stocker and feeder cattle remains strong as most of the lightweight calves are headed for stockpiled grasses or...
Mondo Visione  Nov 5  Comment 
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed an enforcement action in the U.S. District Court for the Northern District of Illinois against James C. Yadgir of Palatine, Illinois, charging Yadgir with exceeding...
Agriculture Online  Oct 23  Comment 
After overcoming a recession, drought, and liquidation of many herds in the past two years, cash cattle prices finally moved higher this fall. Factors such as small cattle numbers, a favorable demand base, and lower feed prices have sent feeder...
Agriculture Online  Oct 10  Comment 
Southeast Farm Press  Oct 2  Comment 
By Andrew P. Griffith, UT Extension livestock economist Lower grain prices, good winter forage outlook and reduced feeder cattle supply push feeder cattle futures to record highs. read more
Agrimoney.com  Jul 18  Comment 
A reversal in sales of feeder cattle volumes may be sign that US cow inventories are to fall further from a 72-year low, the USDA says
Southeast Farm Press  Sep 6  Comment 
By Steven Rust & Roy Black, Michigan State University It is important for producers and growers to calculate what they can afford to pay for feeder cattle given the expected higher corn prices, forecasted sale prices next winter and...




 

Feeder Cattle futures are traded on the Chicago Mercantile Exchange under ticker symbol FC in cents per pound. For electronic trading sessions, the symbol GF is used.[1]

"Feeder Cattle" refers to the young animals (weighing between 650 and 849 pounds) that are sent to feedlots to be finished into "fed" cattle. This is different from live cattle, which are older cattle nearer to slaughter.

The chart at left shows front-month Feeder Cattle Futures prices on the Chicago Mercantile Exchange in dollars per gallon.

Delivery Dates

Feeder Cattle futures are delivered every year in January, March, April, May, August, September, October, & November.[1]

The following is a table with feeder cattle futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2009FCF9FC/F9-CM
March, 2009FCH9FC/H9-CM
April, 2009FCJ9FC/J9-CM
May, 2009FCK9FC/K9-CM
August, 2009FCQ9FC/Q9-CM
September, 2009FCU9FC/U9-CM
October, 2009FCV9FC/V9-CM
November, 2009FCX9FC/X9-CM

Contract Specifications

Contract Size

One Feeder Cattle futures contract on the Chicago Mercantile Exchange is 50,000 pounds.[1]

Daily Price Limit

$.03 per pound above or below the previous day's settlement price. [1]

Last Trading Day

Trading of Feeder Cattle futures contracts on the Chicago Mercantile Exchange ends on the last Thursday of the contract month with exceptions for November and other months, 12:00 p.m..[1]

Trading Hours

  • On the CME Globex electronic platform: Monday 9:05 AM through Friday 1:55 PM with daily trading halts from 4:00 PM - 5:00 PM, US Central Time.[1]
  • Open Outcry (pit session): Monday through Friday, 9:05 AM to 1:00 PM.[1]

Deliverable Grades

Deliverable Feeder Cattle grades for futures contracts on the Chicago Mercantile Exchange are: 650-849 pound steers, medium-large #1 and medium-large #1-2.[1]

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 The Chicago Mercantile Exchange's contract specification for Feeder Cattle futures
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