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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.
Once cattle obtain an entry-level weight, about 650 pounds (290 kg), they are transferred from the range to a feedlot to be fed a specialized animal feed which consists of corn byproducts (derived from ethanol production), barley, and other grains as well as alfalfa and cottonseed meal.
The contracts are for 40,000 pounds of Lean Hogs, and call for cash settlement based on the CME Lean Hog Index, which is a two-day weighted average of cash markets. Minimum tick size for the contract is $0.025 per pound, with each tick valued at $10 USD.
The cattle industry takes the position that the use of growth hormones allows plentiful meats to be sold for affordable prices. [24] Using hormones in beef cattle costs $1.50 and adds between 40 and 50 lb (18 and 23 kg) to the weight of a steer at slaughter, for a return of at least $25. [25]
Young cattle (regardless of sex) are called calves until they are weaned, then weaners until they are a year old in some areas; in other areas, particularly with male beef cattle, they may be known as feeder calves or feeders. After that, they are referred to as yearlings or stirks [4] if between one and two years of age. [5]
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In British Columbia, the Range Regulation defines "animal unit month" for purposes of the Range Act. Effectively, the regulation assigns animal unit equivalents of 1 for a cow (either by herself or with an unweaned calf), 0.7 for a yearling of the genus Bos, 1.5 for a bull, 1.25 for a horse, 0.2 for a sheep, 0.2 for a llama, and 0.1 for an alpaca.
The Ohio Department of Agriculture confirmed an Ohio cattle herd in Wood County has tested positive for bird flu.The test result is awaiting confirmation from the U.S. Department of Agriculture.