17 August 1998
Chicago Exchange plans ‘stocker’ contracts
THE Chicago Mercantile Exchange (CME) is looking to introduce futures on “stocker” cattle – younger animals too small to be put in a feedlot.
The new contracts would be settled in cash, using a CME stocker cattle index, based on a seven-day weighted average of US Department of Agriculture prices, with six listed contract months.
The new contracts would help to round out the exchanges meat complex, which already takes in futures and options on live cattle, feeder (store) cattle, boneless beef and boneless beef trimmings.
Financial Times 17/08/98 page 17 (News Digest)