The Chicago Mercantile Exchange (CME) announced Aug. 25 it will expand the daily price limits for Live Cattle Futures starting Sunday, Sept. 7, 2014.
Chris Grams, CME director of commodity products, said the product modification was a result of ongoing discussion with market participants and CME customers.
The new expanded trading limit will be 5 cents/lb. for the final two trading days of the expiring month contract.
The new price limit adjustment will not affect live cattle futures for August delivery, expiring Aug. 29, 2014.
Currently, live cattle future has a maximum daily limit of 3 cents/lb. but does not have an expanded limit.