Config.
Marché
Rapport
Unité

COT Feeder Cattle (CME)

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

Livestock · CME

What is CME Feeder Cattle?

Feeder cattle

Satellite of Live Cattle (CME)

A long means…

Exposure to a rise in the CME Feeder Cattle Index — the price of cattle being placed on feed.

What is this?

Feeder cattle are weaned calves still headed for the feedlot — not finished slaughter cattle. The CME Feeder Cattle Index, which the future settles to at expiry, is a seven-day weighted average of USDA-AMS sales — auction, direct, video, internet — of 700-to-899-pound Medium and Large Frame No. 1 and No. 1-2 steers in twelve producing states. At expiry there are no animals.

Ranchers hedge the sale into the feedlot; feedlots hedge the cost of placing cattle on feed.

Pitfalls

  • Cash-settled, not physical.
  • 50,000 lb vs 40,000 lb live.
  • ≠ live cattle.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.