12/8/2023 0 Comments October feeder cattle futures![]() ![]() ![]() When feeder cattle mature to 1,200 lbs., they are sold to meat packers to be butchered. After reaching this weight, feeder cattle are then sent to a feed lot where they are fed a certain diet to inhibit a quick weight gain. Around 8 months of age, cattle are weaned from their mothers and sent to stocker operations in order to encourage growth to a substantial size (600-800 lbs.). Most feeder cattle are bred in the summer to ensure that their calves are born in the spring season because of both the temped climate and the abundance of pasture to feed on. These contracts are listed with, and subject to, the rules and regulations of CME. ![]() A trade done at the Base Price of 0 will correspond to a “traditional” TAS trade which will clear exactly at the final settlement price of the day. TAS products will trade a total of four ticks above and below the settlement price in ticks of the corresponding futures contract (0.00025), off of a “Base Price” of 0 to create a differential (plus or minus 4 ticks) versus settlement in the underlying product on a 1 to 1 basis. Trading in all CME Livestock TAS products will be 9:05-13:00 Chicago time on Mondays or on the Tuesdays that follow a Monday holiday, and Tuesday through Friday 8:00-13:00, Chicago time. The Last Trade Date for CME Livestock TAS products will be the second to last business day in the month prior to the named contract month. (TAS) Trading at settlement is available for first 2 listed futures contract months, a calendar spread between the first and second contract month, and are subject to the existing TAS rules. Trade At Marker Or Trade At Settlement Rules Last Thursday of the contract month with exceptions for November and other months, 12:00 p.m. January (F), March (H), April (J), May (K), August (Q), September (U), October (V) & November (X) CT on Monday- Thursday, the markets halt and restart at 8:00 a.m. Feeder Cattle Futures Contract Specifications The steer and cows that are chosen to become feeder cattle have usually been culled from a main herd because they are superfluous to breeding needs. In order to be transferred to the feedlot and fattened for slaughter, feeder cattle must be between 1-2 years of age. “The discount is there for a reason, so I think the hog market is set up for a big break.The world cattle population is well over 1 billion head, and in many cultures, such as in parts of Africa, having many cattle is a good signal of wealth. “I’d be a little bit nervous about expecting the hog market to continue to find support from being at a big discount to cash,” said Terry Roggensack, a principal for the Hightower Report. Higher cash prices for hogs have recently helped to underpin the futures market, analysts said. Margins for pork processors were about $26.85 per hog, down from $31.05 a week ago, according to .ĬME lean hog futures ended mixed, with the most-active October contract settling down 0.275 cent at 89.575 cents per pound. “Beef prices are coming down and putting pressure on packer margins,” said Ted Seifried, chief ag market strategist for Zaner Ag Hedge Group. Margins for beef packers were about $923.10 per head of cattle, down from $984.15 a week earlier, according to livestock marketing advisory service. Beef prices typically decline around Labor Day, which is on Monday, as demand eases for steaks and hamburgers to put on the grill.Ĭhoice cuts of boxed beef fell by $1.50 to $336.42 per hundredweight (cwt) on Friday afternoon, while select cuts dropped by 84 cents to $304.13 per cwt, the U.S. ![]()
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