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Live Cattle Futures Contract Specs

Contract Size 40,000 pounds (~18 metric tons)
Product Description 55% Choice, 45% Select, Yield Grade 3 live steers (or live heifers, effective with the August 2015 contract)
Pricing Unit Cents per pound
Tick Size (minimum fluctuation) $.00025 per pound (=$10 per contract)
Daily Price Limits Daily Price Limits: $0.030 per pound above or below the previous day's settlement price; expandable to $0.045 per pound,see CME Rule 10102.D; $0.05 per pound above or below the previous day's settlement price for expiring contract in last 2 trading days.
Trading Hours
(All times listed are Central Time)
CME Globex (Electronic Platform) Monday 9:05 a.m. Central Time/CT-Opening. At 4:00 p.m. CT on Monday- Thursday, the markets halt and restart at 8:00 a.m. CT on the next morning. Friday 1:55 p.m. CT-Close
Open Outcry (Trading Floor) MON-FRI: 9:05 a.m. -1:00 p.m. Central Time
Last Trade Date/Time
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Last business day of the contract month, 12:00 p.m.
Contract Months
View Listings
Feb, Apr, Jun, Aug, Oct, Dec
Settlement Procedure Daily Livestock Settlement Procedure (PDF)
Final Live Cattle Futures Settlement Procedure (PDF)
Position Limits Non-Spot: 6,300 contracts in any contract month
Spot: 450/300 contracts
All months combined: n/a
See CME Rule: 10102.E
Ticker Symbol
View Product Codes
View Vendor Codes
CME Globex (Electronic Platform) LE
Open Outcry (Trading Floor) LC
Rulebook Chapter 101
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.