Historical Live Cattle/Feeder Cattle Report - gpvec

CME Live Cattle Futures & Options Specifications
Ticker Symbol LC (pit); LE (electronic)
Trading Unit 40,000 lbs. of 55%-Choice/45%-
Select USDA-grade live steers
Price Quote Cents per pound
Minimum Price
Fluctuation (Tick)
.025 = $10.00/contract
(2.5¢/hundred pounds
or .025¢/pound)
Daily Price Limit 3.00 ¢/pound = $1,200/contract
Contract Months Feb, Apr, Jun, Aug, Oct, Dec
Trading Hours 1
RTH: 9:05 AM - 1:00 PM
(Chicago Time) Last day: 9:05 AM - 12:00 PM
Globex: Mon-Thu 9:05AM - 4PM
Shutdown period 4PM - 5PM
Re-open 5:00PM - 4:00PM
Friday Close at 1:30PM
LTD: 12:10PM (if LTD is on a day
that the market closes early, then
the time is 11:10AM)
Last Trading Day Last business day of the
contract month.
Delivery Days 2
Any business day of the contract
month and the first seven business
days of the next calendar month,
except that live-graded deliveries
may not be made prior to the
seventh business day following the
first Friday of the contract month
and carcass-graded deliveries (if
called for by long) may not be
made prior to the fourth business
day following the first Friday of
the contract month.
1 Closing times may vary; consult CME for holiday schedule.
2 Consult CME rulebook for a more detailed description of tender, demand,
retender, reclaim, and assignment of Certificates of Delivery, as well as for
premiums and discounts. Long positions outstanding during the contract
month may be assigned delivery.
CME Live Cattle Futures & Options Specifications
Ticker Symbols Calls: CK Puts: PK
Underlying One Live Cattle futures contract
Contract
Strike Prices Even intervals of 2 cents per
pound, e.g., 62¢, 64¢, 66¢;
except front two months are at
one-cent-per-pound intervals,
e.g., 68¢, 69¢, 70¢
Premium
cents per pound;
Quotations e.g., 2.00 premium = $800
Minimum Price 1
.025 cents per pound =
Fluctuation (Tick) $10.00/contract (cabinet = $5.00)
Daily Price Limit None
Contract Months Feb, Apr, Jun, Aug, Oct, Dec
Trading Hours 2
RTH: 9:05 AM - 1:02 PM
(Chicago Time)
Globex: Mon-Thu 9:05AM - 4PM
Shutdown period 4PM - 5PM
Re-open 5:00PM - 4:00PM
Friday Close at 1:30PM
LTD: 12:10PM (if LTD is on a day
that the market closes early, then
the time is 11:10AM)
Last Day
The first Friday of the underlying
of Trading futures contract; if that Friday is
not a business day, then trading
shall terminate on the preceding
business day.
Minimum
No performance bond required for
Performance put or call buyers, but the premium
Bond
must be paid in full; option sellers
must meet additional performance
bond requirements as determined
by the Standard Portfolio
Analysis of Risk (SPAN ® )
performance bond system.
Exercise Procedure 3 An option may be exercised by the
buyer up to and including the last
day of trading. To exercise, the
clearing member representing the
buyer submits an Exercise Notice
to the Clearing House by 7:00 PM
on the day of exercise.
1
A trade may occur at a nominal price – a cabinet – whether or not it results
in liquidation of positions for both parties to the trade.
2
Closing time may vary; consult CME for holiday schedule.
3
Consult your brokerage firm for additional or specific requirements,
policies, and procedures.
6 HISTORICAL LIVE CATTLE/FEEDER CATTLE REPORT