Contract Specifications for Live Cattle Futures (LE)
| EXCHANGE | Chicago Mercantile Exchange (CME) |
|---|---|
| PRODUCT SYMBOL | CME Globex (Electronic Platform) = LE Open Outcry (Trading Floor) = LC |
| VENUE | CME Globex, CME Clear Port, Open Outcry (New York) |
| TRADING HOURS (ALL TIMES ARE NEW YORK TIME/ET) | CME Globex (Electronic Platform) MON 9:05 a.m. – FRI 1:55 p.m. Central Time Daily trading halts 4:00 p.m. – 5:00 p.m. Central Time Open Outcry (Trading Floor) |
| CONTRACT SIZE | 40,000 pounds (~18 metric tons) |
| PRICE QUOTATION | U.S. cents per pound |
| TICK SIZE (Minimum Fluctuation) | $0.00025 per pound ($10 per contract) |
| DAILY PRICE LIMIT | $0.03 per pound above or below previous day’s settlement price. |
| TERMINATION OF TRADING | Trading terminates on the third last business day of the delivery month. |
| CONTRACT MONTHS | Feb, Apr, Jun, Aug, Oct, Dec |
| SETTLEMENT TYPE | Physical Settlement |
| LAST TRADE DATE | Last business day of the contract month, 12:00 p.m. |
| POSITION LIMITS | Non-Spot : 5,400 contracts in any contract month Spot : 450/300 contracts All months combined : N/A |
| DELIVERABLE GRADE | 55% Choice, 45% Select, Yield Grade 3 live steers |
| EXCHANGE RULES | These contracts are listed with, and subject to, the Rules and Regulations of CME. |
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