Futures on CME Group Live Cattle have been offered for trading at the Chicago Mercantile Exchange since 1964. Today these physically delivered livestock futures trade through both open outcry on the CME Group and on the CME Globex electronic trading platform.
The contract trading unit of the Live Cattle futures and Live cattle options is 40,000 pounds.
When Live cattle futures were introduced by CME in 1964, it became the first-ever non-storable futures contract.
The CME launched electronic options trading on Live cattle futures options on December 4, 2006.
On February 1, 2012, CME Group released a clearing advisory listing the stockyards and slaughter plants that have been approved for deliveries against the CME Group Live Cattle futures contract from February 1, 2012 through January 31, 2013. The advisory can be found here.
|Live cattle futures|
|Contract Size||40,000 pounds|
|Pricing Unit||$0.01 per hundred pounds or $4.00/contract|
|Tick Value||$0.025/hundred pounds or $10/contract|
|Contract Months||Feb, Apr, Jun, Aug, Oct, Dec; 9 months at a time|
|Last Trading Day||Last business day of the contract month, 12:00 p.m|
|Trading Hours||Monday - Friday: 8:30 a.m. - 1:05 p.m. CT||Mon-Thurs 5:00 p.m.-4:00 p.m. Shutdown period from 4:00 p.m.-5:00 p.m.; Sun & Hol 5:00 p.m.-4:00 p.m. Chicago time|
|Price Limits||$0.03/hundred pounds or $1200/contract||$0.03/hundred pounds or $1200/contract|
|Live cattle options|
|Trade Unit||One futures contract|
|Point Value||1 point = .01 cents per hundred pound = $4.00|
|Tick Value||Full Tick = $.00025 per pound (=$10 per contract)|
|Option Months||9 months of Feb, Apr, Jun, Aug, Oct, Dec, plus one serial month of Jan, Mar, May, Jul, Sep, or Nov|
|Strike Prices||All listed intervals|
|Exercise Style||American-See CME Rule 101A02|
|Trading Hours||Monday - Friday: 8:30 a.m. - 1:02 p.m. CT||Monday - Friday: 8:30 a.m. - 1:05 p.m. CT|
|Ticker Symbol||Put: PK Call: CK||LE|
Futures Contracts Volume
In 2014, the volume of CME Group Live Cattle futures traded ranked nineteenth among all agricultural futures and options contracts according to the FIA.
|Year||Total Annual Volume||Percent Change|