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Feeder cattle futures prices are a part of the S&P GSCI commodity index, which is a benchmark index widely followed in financial markets by traders and institutional investors. Its weighting in S&P GSCI give feeder cattle futures prices non-trivial influence on returns on a wide range of investment funds and portfolios. [18]
Live cattle is a type of futures contract that can be used to hedge and to speculate on fed cattle prices. Cattle producers, feedlot operators, and merchant exporters can hedge future selling prices for cattle through trading live cattle futures, and such trading is a common part of a producer's price risk management program. [1]
Commodity [2] [3] Contract size Currency Main exchange Symbol Class III Milk: 200,000 lb: USD ($): Chicago Mercantile Exchange: DC Cash-settled Butter: 20,000 lb (~9 metric tons)
Ranking of major exchange groups, ranked by trading volume in 2023 [1] [2]; Rank Exchange groups and exchanges Trading volume Open interest; Jan. - Dec. 2023
The S&P GSCI is a world-production weighted index that is based on the average quantity of production of each commodity in the index, over the last five years of available data.
A commodity price index is a fixed-weight index or (weighted) average of selected commodity prices, which may be based on spot or futures prices.It is designed to be representative of the broad commodity asset class or a specific subset of commodities, such as energy or metals.
Over 1000 breeds of cattle are recognized worldwide, some of which adapted to the local climate, others which were bred by humans for specialized uses. [1]Cattle breeds fall into two main types, which are regarded as either two closely related species, or two subspecies of one species.
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. [1] Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.