Increased Daily Price Limits for Feeder Cattle Futures and Expansion Capability of Daily Price Limits for Feeder Cattle Futures and Live Cattle Futures.  SER-7266

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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 $0.03 per pound above or below the previous day's settlement price; $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
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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
48=Clearing
Open Outcry (Trading Floor) LC
Rulebook Chapter 101
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.