Live cattle are raised for the production of beef until they reach a particular weight, usually between 1,200 and 1,400 lbs. When the calves grow and reach this weight limit they are sent to feedlots and are ready to be sent to slaughterhouses. Live cattle futures are traded on the Chicago Mercantile Exchange (CME Globex) under the ticker symbol LE. The contract size comprises 40,000 pounds (18 metric tonnes). The United States, which is the one of the world’s major cattle producing countries exports 2 billion beef pounds annually. Demand and supply factors for beef play the most significant role in forming live cattle prices.
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