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The CME Feeder Cattle Index is calculated using prices reported by USDA's Agricultural Marketing Service (AMS). AMS reports number of cattle sold, average price of sale, and average weight of cattle sold for daily feeder cattle transactions for every US state in 50 pounds (23 kg) segments for each grade segment.
The current Commissioner is Joseph W. Guthrie, who was appointed on January 15, 2022. He is Virginia's 18th Commissioner of Agriculture and Consumer Services. Guthrie is a sixth generation Virginia farmer, who owned and operated a beef cattle and hay farm in Pulaski County on farmland that has been in his family since 1795.
Sale prices for calves sold from a cow–calf operation are subject to fluctuation as part of the cattle cycle of financial markets. [12] The relatively long period it takes a cow–calf operator to build up a beef herd and raise new calves to the desired weight tends to extend the length of such a cycle.
Live cattle is a type of futures contract that can be used to hedge and to speculate on fed cattle prices. Cattle producers, feedlot operators, and merchant exporters can hedge future selling prices for cattle through trading live cattle futures, and such trading is a common part of a producer's price risk management program. [1]
The checkoff assesses $1 per head on the sale of live domestic and imported cattle, in addition to a comparable assessment on imported beef and beef products. The checkoff assessment became mandatory when the program was approved by 79 percent of producers in a 1988 national referendum vote.
Since cattle are herbivores and need roughage in their diet, silage, hay and/or haylage are all viable feed options. [14] Despite this, 3/4th of the 32 pounds (14.52 kg) of feed cattle consume each day will be corn. [15] Cattle weighing 1000 lbs. will drink an average of 41 L a day, and approximately 82 L in hot weather. [16]
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