Live Cattle Futures
Quotes
Commodity and futures prices like
live cattle prices are usually quoted the same way prices are quoted in the cash market (physical market). That is, in dollars,
cents, and sometimes fractions of a cent. Different commodities are quoted in different trading units. Live cattle prices
are quoted per ounce. Be certain you understand the price quotation system for the particular commodity that you consider
trading.
The
CME live cattle futures contract is a contract for future physical delivery of 40,000 lbs of live cattle; however, the
vast majority of the futures positions are offset well before delivery. The CME live cattle futures contract is priced in
dollars and cents per lb. The live cattle futures trade in $.0001 increments, equivalent to $4.00 per contract.
Example of Futures Quote:
82.40 means $.8240 per lb
Live Cattle Options Quotes
The CME live cattle options contract controls 40,000
lbs of live cattle based on the underlying futures contract.
Example of Options Quote:
3.50 means $.0350 per lb
$.0350 X 40,000 lbs = $1,400.00