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The May feeder cattle contracts were set to expire and settle to the CME Feeder Cattle Index. The index now includes previously excluded cattle labeled fancy, thin, fleshy, gaunt or full, adding about 1,042 head on one date.
The price effect was small, with the new index $0.13 higher on April 18.
The index change adds more head to the settlement base but leaves prices largely unchanged, so it has little direct effect on feeder cattle prices. It matters mainly for hedgers and settlement calculations.
u.osu.eduSmith atMay 29, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
