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WIKI ANALYSIS
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This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract. |
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, 2009 | FCF9 | FC/F9-CM |
| March, 2009 | FCH9 | FC/H9-CM |
| April, 2009 | FCJ9 | FC/J9-CM |
| May, 2009 | FCK9 | FC/K9-CM |
| August, 2009 | FCQ9 | FC/Q9-CM |
| September, 2009 | FCU9 | FC/U9-CM |
| October, 2009 | FCV9 | FC/V9-CM |
| November, 2009 | FCX9 | FC/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
- ↑ 1.0 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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