Contract Specifications

Trading Unit
Feeder Cattle Futures: 50,000 lbs. of 700 to 849 lb. Medium Frame #1 and Medium and Large Frame #1 feeder steers
Feeder Cattle Options: One Feeder Cattle Futures Contract
Live Cattle Futures: 40,000 lbs. of 55% choice, 45% select grade live steers
Live Cattle Options: One Live Cattle Futures Contract

Trading Hours
Feeder Cattle Futures: 9:05 a.m. - 1:00 p.m. LTD (12:00p.m.)
Options: 9:05 a.m. - 1:02 p.m. LTD (12:00p.m.)

Trading Months
Feeder Cattle Futures: Jan, Mar, Apr, May, Aug, Sept, Oct, and Nov, Eight months listed at a time Live Cattle Futures: Feb, Apr, Jun, Aug, Oct, Dec, Seven months in the February Bi-monthly Cycle
Feeder Cattle Options: Jan, Mar, Apr, May, Aug, Sep, Oct, Nov.
  Flex Options: Eight options months listed
Live Cattle Options: Feb, Apr, Jun, Aug, Oct, Dec, Serial Months
  Flex Options: Six months in Feb Bi-monthly cycle. One serial month

Point Description
Feeder Futures and Options: 1 point = $.0001 per pound = $5.00
Live Cattle Futures and Options: 1 point = $.0001 per pound = $4.00

Minimum Price Fluctuation
Feeder Cattle Futures and Options-regular: 0.00025 = $12.50
Live Cattle Futures and Options-regular: 0.00025 = $10.00
Feeder Cattle Options-cab: 0.000125 = $6.25
Live Cattle Options-cab: 0.000125 = $5.00

Options Strike Prices
Feeder Cattle Options: Cents per pound. First two months only- $0.01 intervals, $0.60, $0.61, $062 etc. All other months- $0.02 intervals, $0.62, $0.64, $0.66, etc.
  for spot month, $0.005 intervals, $0.605, $0.610, $0.615, etc.
  Flex Options are listed in intervals of $0.0025
Live Cattle Options: Cents per pound. First two months only- $0.01 intervals e.g. $0.76, $0.77, $0.78. All other months $0.02 intervals e.g. $0.76, $0.78;
  Serial Options - $0.01 intervals. Flex Options are listed in intervals of $0.0025.

Product Code
Live Cattle Futures: LC
Feeder Cattle Futures: FC