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Live cattle futures and options are traded on the Chicago Mercantile Exchange (CME), which introduced live cattle futures contracts in 1964. [6] Contract prices are quoted in U.S. cents per pound. Minimum tick size for the contract is $0.025 per pound ($10 per contract).
The minimum tick size for the contract is $0.00025 per pound ($12.50 per contract). Trading on the contract are subject to price limits of $0.045 per pound above or below the previous day's contract settlement price.
All this added only 4d a pound to the carcase price of beef (≅£4.40 a kilo 2018). [103] [104] Scientific American reported that, recently, five cattle-laden steamers had sailed from New York to England in one day. The cattle in this new trade "come principally from Ohio, Kentucky, Illinois, Iowa, Missouri, Kansas, Nebraska and Colorado". [105]
Critics say the new Cattle Price Discovery and Transparency Act could stress South Plains & Panhandle producers.
A pound of 100% ground beef chuck cost $5.59 in October, a penny more than in September. Fresh whole chicken went from $1.98 to $1.99 per pound, maintaining the same pricing as January 2024.
Thus an 800-pound steer would be considered equivalent to 0.8 animal units. [4] Estimation based on metabolic body size. In this method, which has been suggested for cattle, the number of animal units represented by an animal can be calculated as the ratio of that individual's body mass (in kg) to the 0.75 power, divided by 454 to the 0.75 power.