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NE Oregon | The specs recently changed on feeder contracts used to be a 650-850 lb steer, last year I think it changed to a 700-900 lb steer.
“1. There are a total of eight eligible 50-pound weight brackets for the Index (Medium & Large #1 steers: 700-749#, 750-799#, 800-849#, 850-899# and Medium & Large #1-2 steers 700-749#, 750-799#, 800-849#, 850-899#). Any cattle that have comments of fancy, thin, fleshy, gaunt or full or ones indicating predominantly dairy, exotic, or Brahma breeding are disqualified from the calculation. Non-US origin cattle are also disqualified. Other comments such as calves, value enhanced or reputation are accepted and averaged with the non-commented cattle from the same weight category to provide one combined head count and one weighted average weight and price for that weight range.”
These are the types of cattle used to calculate the cash feeder cattle index, which all futures are settled to upon expiration. So effectively this is what the feeder futures are based on. I copy/pasted the above info from the cme website. | |
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Feeder futures price
