At a recent meeting a cattle producer asked me to explain the feeder cattle index that I had just referred to. The CME Feeder Cattle IndexTM (Index) is often used as a barometer for 750 lb feeder steer prices in the U.S. Since CME Group feeder cattle futures are cash settled rather than requiring actual delivery of cattle, all open contracts after termination of trading on the last Thursday of the contract month are settled with the Index price.


The CME Index was designed to use cattle within major feeder cattle producing states. The Index uses steers meeting prescribed muscling frame score requirements, exhibiting no predominantly dairy, exotic, or Brahma breeding characteristics and none being labeled on the market news reports as fancy, thin, fleshy, gaunt, or full. Non-US origin cattle are also excluded. The steers must also be publicly reported from within the specified twelve feeder cattle producing states (12-state region). The data is collected by USDA/State Market News Reporters and released on the Internet at:
www.ams.usda.gov/marketnews.htm

https://www.cmegroup.com/trading/agricultural/files/Understa...

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Note added at 7 hrs (2018-02-24 22:08:25 GMT)
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