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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]
Liniers cattle market, Buenos Aires, Argentina, 2009. The commodity status of animals is the legal status as property of most non-human animals, particularly farmed animals, working animals and animals in sport, and their use as objects of trade.
The difference between the selling price for live cattle and the costs of purchasing feeder cattle and feed (usually assumed to be corn, regardless of actual mix of feed used) is referred to as livestock gross margin (LGM), feeding margin, or cattle crush (as opposed to production margin, which also includes other production costs). [21]
The Eastern Young Cattle Indicator (EYCI) is an indicator of general cattle markets in Australia. It is calculated based on a seven-day rolling price average expressed in cents per kilogram carcase (or dressed) weight (¢/kg cwt). [1] The EYCI sources data from 23 saleyards in New South Wales, Queensland and Victoria. [2]
The following is a list of countries by live animal exports. Data is for 2019, in millions of United States dollars , as reported by International Trade Centre . [ 1 ] Currently the top twenty countries are listed.
There are many methods used to sell cattle to meat packers. Spot, or cash, marketing is the traditional and most commonly used method. Prices are influenced by current supply & demand and are determined by live weight or per head.
The word livestock was first used between 1650 and 1660, as a compound word combining the words "live" and "stock". [6] In some periods, " cattle " and "livestock" have been used interchangeably. Today, [ specify ] the modern meaning of cattle is domesticated bovines , while livestock has a wider sense.
Cattle are not often kept solely for hides, and they are usually a by-product of beef production. Hides are used mainly for leather products such as shoes. In 2012, India was the world's largest producer of cattle hides. [114] Cattle hides account for around 65% of the world's leather production. [115] [116]