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Feeder Cattle Prices (GF): How to Check Futures and Cash Markets

GF is CME’s symbol for feeder cattle futures. Learn how the contract, settlement index, and USDA cash-market reports differ—and how to compare them.
From TheFinanceBase Team4 min to read
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GF is the CME Globex symbol for feeder cattle futures, not a single price for feeder cattle sold at every auction. The futures contract is quoted in U.S. cents per pound and financially settled against the CME Feeder Cattle Index; cash prices depend on the sale date, location, sale type, class, and weight. The available exchange and index pages do not establish a current price for October 8, 2026, so this guide explains how to find and compare the figures without presenting a stale quote as live.

What does GF mean in feeder cattle prices?

GF is the product code for CME Feeder Cattle futures traded on Globex. A futures quote is the contract price for a specified contract month; it is not a direct quote for a particular animal, auction, or ranch.

According to CME’s Feeder Cattle Futures Contract Specs, each contract represents 50,000 pounds, is quoted in U.S. cents per pound, and is financially settled. CME lists January, March, April, May, August, September, October, and November contract months, with contracts listed for nine months. Trading generally terminates on the last Thursday of the contract month, subject to business-day adjustments; November has a special rule tied to the Thursday before Thanksgiving. Check CME’s live specifications for the applicable contract’s current details.

Reading a futures quote

Pay attention to the contract month and the quote timestamp. The minimum price fluctuation is 0.00025 cents per pound, worth $12.50 per 50,000-pound contract, according to CME’s specifications retrieved October 8, 2026. A listed futures price is not a promise that a local buyer will pay that amount for cattle: it reflects the contract and its settlement mechanism.

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What is the CME Feeder Cattle Index?

The CME Feeder Cattle Index is the reference used to settle feeder cattle futures and options. CME describes its livestock index prices as volume-weighted averages calculated using head counts, weights, and prices. The feeder cattle index is posted in the U.S. afternoon with a one-business-day lag. See CME’s Commodity Index Prices page for index information.

The index connects a futures contract to reported cash-market activity, but it is not the same as an individual sale result. CME’s Feeder Cattle and Live Cattle Product Overview says the index is calculated using USDA-reported auction sale data. The CME index page displayed a technical-difficulties notice when retrieved on October 8, 2026, so no latest index value is established here.

Where can you check USDA feeder cattle prices?

For cash-market observations, use USDA Agricultural Marketing Service (AMS) reports and match the reported cattle and sale conditions to the question you are trying to answer. USDA launched its National Feeder and Stocker Cattle dashboard on April 14, 2026. Its filters let users refine results by date, sale type, region, class, and weight.

AMS also maintains a Direct Feeder Cattle Reports directory, linking to the national dashboard, national daily feeder and stocker summaries, and regional or state reports. To locate a useful comparison:

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  1. Choose the sale date and market area relevant to your cattle or decision.
  2. Match the sale type, class, and weight range as closely as the report allows.
  3. Read the report’s units and market description before comparing its cash values with a futures quote.

A national figure can help show broader conditions, but it should not be treated as a local bid when region, cattle characteristics, or sale type differ.

How do feeder cattle futures compare with cash prices?

Futures and cash reports describe different things, so first align units and context. CME quotes GF in U.S. cents per pound. USDA market summaries commonly report dollars per hundredweight (cwt). One hundredweight is 100 pounds; converting units makes the arithmetic comparable, but it does not make two prices economically interchangeable.

Price What it represents What to match before comparing
GF futures CME contract price for a specified delivery-month listing, financially settled against the feeder cattle index. Contract month, quote timestamp, and quoted unit (U.S. cents per pound).
USDA cash-market report Reported feeder or stocker cattle sales in the covered market. Sale date, region or market, sale type, class, weight, and report unit (often dollars per cwt).
CME Feeder Cattle Index Volume-weighted index using head counts, weights, and prices; settlement reference for feeder cattle futures and options. Index date and its one-business-day publication lag.

Futures participants may also monitor USDA reports, weather, exports, imports, corn, and other feed grains when forming strategies, as CME’s product overview describes. These are factors people consider, not a deterministic formula for what cattle or futures will be worth.

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Is there a current GF price or feeder cattle trend here?

No current numeric quote or market direction is established by the available pages for October 8, 2026. CME’s specifications page showed a delayed quote last updated October 6, 2026, which is too old to present as current on October 8; the index page reported technical difficulties, and no individually dated latest USDA observation is provided here. For a current snapshot, check the live CME quote and the corresponding USDA report, recording the quote time or sale date and the relevant market, class, weight, and sale type.

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How futures prices can appear in livestock risk management

Futures may also enter official risk-management calculations. The USDA Risk Management Agency’s Livestock Gross Margin – Cattle FAQ says expected feeder cattle prices use averages of CME feeder cattle futures daily settlements; the measurement period depends on whether the relevant contract month has expired. That is an example of futures data in a program calculation, not an individualized insurance recommendation.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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