Deliveries on the CME Live Cattle Contract: An Economic Assessment

Michael A. Hudson, Thomas A. Hieronymus and Stephen R. Koontz

Review of Agricultural Economics, 1988, vol. 10, issue 2, 155-164

Abstract: Deliveries on the CME live cattle contract respond to the delivery month basis, discounts for yield grade 4 carcasses, and limited seasonal influences. Modification of the contract to tighten quality standards resulted in a decline in the response of deliveries to the yield grade 4 carcass discounts. The certificate delivery system appears to have had no significant effect on the total number of deliveries. Analysis of spatial combinations of delivery points suggests that markets east of the Mississippi River respond to different factors than the western markets.

Date: 1988
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