CHICAGO Feb 28 CME Group Inc said on
Friday that it plans to amend deliveries against live cattle
futures to include heifers beginning with the listing of the
August 2015 delivery month, the exchange said in a statement.
The change to the delivery specifications will be listed for
the trade date of March 17, 2014. The exchange will temporarily
delay the initial listing of the August 2015 contract month
until March 17 to coincide with the amendments.
Changes to the current delivery policy include heifers
subject to the same yield, quality and age specifications as
steers, according to the exchange.
Also, heifers suitable for delivery will be at par value
"The rule change will result in a modest increase in the
percentage of total cattle that will be delivered," said Joe
Ocrant, president of Chicago-based Oak Investment Group.
Heifers were not initially included in deliveries because
they are smaller in size than steers, which means they produce
smaller cuts of meat than some end-users require, he said.