Feeder-cattle definition

A futures contract based on young cattle that are sent to feedlots in preparation for slaughter. The feeder cattle are the basis of the Chicago Mercantile Exchange’s (CME) Live Cattle contracts. Feeder cattle futures began trading in 1971 and in 1987 options began trading.
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(agriculture) Steers or cows that are mature enough to be placed in a feedlot in preparation for slaughter.
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Origin of feeder-cattle