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THE CONSENSUS® DIRECTORY
OF FUTURES TRADING FACTS

FEEDER CATTLE - LIVE CATTLE

COMMODITY
TYPE 		 FEEDER CATTLE LIVE CATTLE LIVE CATTLE
EXCHANGE
NAME 		 CME CME MACE
TRADING TIME
(CENTRAL) 		 9:05 - 1:00 9:05 - 1:00 9:05 - 1:05
DELIVERY
MONTHS 		 F,H,J,K,Q,U,V,X G,J,M,Q,V,Z G,J,M,Q,V,Z
CONTRACT
UNIT 		 50,000 lbs 40,000 lbs. 20,000 lbs
PRICE
QUOTED IN 		 $/cwt. $/cwt. ¢/lb.
MINIMUM
FLUCTUATION 		 $.025/cwt $.025/cwt $.00025/cwt
$VALUE OF 
MINIMUM TICK 		 12.50 10.00 5.00
$VALUE OF 
1¢ MOVE 		 500 400 200
MAX DAILY LIMITS
ABOVE OR BELOW
PREV CLS.¢ 		 1.5¢/lb 1.5¢/lb 1.5¢/lb
MAX DAILY LIMITS
ABOVE OR BELOW
PREV CLS. $ 		 750 600 300
DAILY MAX. PERM
RANGE BET. DAY'S
HIGH & LOW ¢ 		 3¢/lb. 3¢/lb. 3¢/lb.
DAILY MAX. PERM
RANGE BET DAY'S
HIGH & LOW $ 		 1500 1200 600
LAST 
TRADE DAY 		 Last Thursday
of contract month		 Bus day prior to
Last 5 bus days		 Bus day prior to
Last 7 bus days
FIRST 
DELIVERY DAY 		 Cash Settlement 4th Bus day following
1st Friday		 3rd Bus day
NET MARGIN 
REQ INITIAL 		 540.00 675.00 236.00
NET MARGIN 
REQ MANT. 		 400.00 500.00 175.00
SPREAD MARGIN 
REQ INITIAL 		 338.00 338.00 Market
SPREAD MARGIN 
REQ MANT. 		 250.00 250.00 Market

KEY TO CONTRACT MONTHS

1st
Year		 Month 2nd
Year		 1st
Year		 Month 2nd
Year		 1st
Year		 Month 2nd
Year 
F January A K May E U September P 
G February B M June F V October R 
H March C N July L X November S 
J April D Q August O Z December T 
  • Minimum margin requirements have been recommended by the com. exchanges listed. Spread margins are intra-market only.
  • Consult your broker for changes that occur during spot months.
  • Contact your broker for individual brokerage hour margin requirements.
  • Contact your broker or the exchange for information on variable trading limits.
  • Price limitations are imposed by the various exchanges to prevent extreme price changes in any one day. When prices reach the trading limit, trading beyond that limit is stopped for that day. In nearly all markets, the Board of Directors of Governors has the power to change the limits in emergencies. in the current month, the limitations are broadened in certain futures contracts by permitting wider price ranges and in others by removing limitations entirely.
  • The above compilation includes all active commodities and their markets. The information contained herein is from sources believed to be reliable, but we cannot be held responsible for either its accuracy or completeness.
  • All information contained herein is subject to change by action of the respective commodity exchanges. We will make every effort to update any changes. We suggest that you direct any questions to the members of the exchanges. Those acting on this information are responsible for their own actions.

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    Copyright© CONSENSUS, Inc. 2001 

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