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Live Cattle Futures

QUOTE AND NEWS
The Beast
FX Street  Aug 28  Comment 
Beast Trades 8-28-09 December Euro buy at 14478 on a stop; sell stop at 14194 December Aussie Dollar buy at 8371 on a stop; sell stop at 8201 October Live Cattle sell at 8715 on a stop; buy stop at 8950 October Meal buy at 3159 on a stop; sell...
Slide in cattle herd heralds price rebound
Agrimoney.com  Aug 12  Comment 
Prices of live cattle will surge by more than 30% over the next year, as demand recovers while stocks are low, Goldman Sachs says
Beef On Sale
Hard Assets Investor  Oct 20  Comment 
Hints of better times ahead are now coming from a market that's been a commercial disappointment this fall. I'm talking about the cattle market. Specifically, live cattle - market weight steers. December cattle closed up 1.72 at 92.55 cents a...
GoldMoney: The 'Hamburger Theory'
Blogging the Commodity Bull Market  Sep 4  Comment 
In his latest must-read commentary, James Turk of GoldMoney.com cites Warren Buffett's "Hamburger Theory" and reflects that gold and silver investors should be savoring this current buying opportunity - much as the same way an excessive hamburger...
Current Commodity Futures Positions - 8/03/08
Blogging the Commodity Bull Market  Aug 4  Comment 
Will post some thoughts later in the week on the positions... Open Positions Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss 07/23/08 Long 1 SEP 08 Australian Dlr ...
Corn and Live Cattle News and Thoughts
Blogging the Commodity Bull Market  Jul 15  Comment 
Tom Dyson writes in DailyWealth that he believes corn prices are set to drop sharply - and reiterates his favorite plays are live cattle. After thinking about corn a bit, I also now believe that there is more risk on the downside. Potential...
Current Commodity Futures Positions - 7/13/08
Blogging the Commodity Bull Market  Jul 14  Comment 
Another tough one - got to put it in the past, though. Facts are, this system works great when futures are going up, and not so great when they are going sideways/down. And lately, I just haven't been in the particular futures that are going up...
Basics on Trading Meat Futures
Blogging the Commodity Bull Market  Jun 24  Comment 
Nice article here by Kevin Kerr on the basics of the meat markets and trading meat futures. Everything sure is setup for higher meat prices. I think this is a temporary breather this week, as the live cattle charts were going parabolic for the...
Weekly Positions Update - 6/22/08
Blogging the Commodity Bull Market  Jun 23  Comment 
Sticking with the rules here, I'm now into cotton and sugar on their respective breakouts. Still like the live cattle and added some longer dated contracts this week. Will probably not add to this position, as it's heavy enough. Got scared out...
Weekly Positions Update - 6/15/08
Blogging the Commodity Bull Market  Jun 16  Comment 
Open Positions Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss 06/12/08 Long 1 SEP 08 Corn 734 1/4 768...
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more ▼WIKI ANALYSIS
 This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract.
 
TOP CONTRIBUTORS
Sr. Director
Charles Armstrong
The Daily Angle

This article refers to the specific commodity. For beef prices in general, see the article on Beef Prices.

Live Cattle refers to cattle (cows) that have reached the requisite weight for slaughter. This is different from feeder cattle, which are the younger animals that are still in the process of being fed into fished "fed" cattle.

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

The chart at left shows Front Month Live Cattle Futures prices on the Chicago Mercantile Exchange (CME) in cents per pound.


Delivery Dates

Live Cattle futures are delivered every year in February, April, June, August, October, and December[1]

The following is a table with Live 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
February, 2009LCG9LC/G9-CM
April, 2009LCJ9LC/J9-CM
June, 2009LCM9LC/M9-CM
August, 2009LCQ9LC/Q9-CM
October, 2009LCV9LC/Q9-CM
December, 2009LCZ9LC/Z9-CM


Contract Specifications

Contract Size

One Live Cattle futures contract on the Chicago Mercantile Exchange is 40,000 pounds.[1]

Daily Price Limit

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

Contents

Last Trading Day

Trading of Live 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]

Deliverable Grades

Deliverable Live Cattle grades for futures contracts on the Chicago Mercantile Exchange are: 55% Choice, 45% Select, Yield Grade 3 live steers.[1]

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