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The contract trades globally on the CME Globex electronic trading platform and has eight expiration months: January, March, April, May, August, September, October, and November. Finishing margins are nearing breakeven, which was supportive for the overall feeder complex. The Chicago Mercantile Exchange (CME) offers a futures contract that settles into 50,000 pounds (23 metric tons) of feeder cattle. It is intended to ensure that futures trading activity in not constrained during the final three trading days of the expiring March 2020 contract (March 24, 25 and 26). June live cattle futures finished the week down US3.50 however, Alberta fed cattle prices were up 1-2 from last week, with active trade at 154.50. Domestic and global beef demand have been excellent so far in 2021. Feeder Steers that’s 8.88 per hundredweight, 53 per head, or 4,440 per truckload unit higher than where we are today. He told me yesterday that you can insure a 600 pound steer right now for 1.56. Absolutely, the August 2021 Feeder Cattle Futures settlement price peaked at 161.83 per hundredweight on April 7th, 2021. He has a pretty good understanding of the futures and insuring a market price. There is a young guy here who worked in a big feedlot for years. “The aforementioned emergency action to increase daily price limits of the March 2020 contract month of the contract was taken as a direct result of the COVID-19 virus’s effect on live auctions, direct trade and video sales of feeder cattle. I see that feeder futures are all on the up side of 1.40.
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In addition, CME said the action will ensure that convergence between the CME Feeder Cattle Index and the March 2020 feeder cattle futures contract is not impeded. Before the target price, 148 would be a resistance. At this point in time, target price could be 157 and support could be 136. to ensure that trading is not constrained.” Feeder Cattle Futures (CME: GF) Trade : Buy Entry : 139 Target : 157 (18, +12.95) Stop : 136 (-3, -2.16) Posted on Saturday, DecemNote : Feeder cattle futures prices seem to be out of the bottom. “CME took emergency action to increase daily price limits in the March 2020 contract month of the contract to $10.00/cwt. “Reporting and/or live auctions, direct trade and video sales have been adversely affected by the COVID-19 virus causing unexpected volatility in the CME Feeder Cattle Index,” the firm said. CME Rule 10203 (Settlement Procedures) of the contract describes how the CME Feeder Cattle Index is calculated and explains that the index is used to determine the final settlement value for feeder cattle futures and options. The Chicago Mercantile Exchange (CME) notified the Commodity Futures Trading Commission this week that the CME Group Global Command Center took emergency action regarding price limits of the March 2020 contract month of the feeder cattle futures contract, effective immediately.ĬME Rule 10202.D (Daily Price Limits) of the contract applies initial ($4.50/cwt.) and expanded ($6.75/cwt.) daily price limits above or below the previous day’s settlement price for each futures contract month.