Intercontinental Exchange Will Launch Livestock Futures
The firm plans to offer new cattle and hog futures contracts beginning on December 7, 2026.
Updated on Oct. 13, 2026 in Agriculture
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Intercontinental Exchange will enter the livestock futures market on December 7, 2026, by launching new cattle and hog contracts. These offerings will include physically settled cattle futures and three cash-settled contracts for cattle and hog prices.
Why it matters
The move responds to customer demand for alternatives to CME Group, which has dominated the sector since the 1960s. The expansion arrives as the US cattle herd remains at its smallest size in over 50 years.
Intercontinental Exchange will debut three cash-settled contracts under the codes COW, MOO, and SOW. These products aim to serve a market where the domestic cattle herd has reached a 50-year low.
The players
Intercontinental Exchange
This American company operates global financial and commodity marketplaces.
CME Group
This financial exchange operator is one of the world's largest derivatives marketplaces.
The details
The new contracts seek to compete directly with CME Group's long-standing livestock trading operations. Intercontinental Exchange will utilize cloud-based systems for the platform, while CME Group concurrently migrates its infrastructure to a Google Cloud data centre in Aurora, Illinois.
Timeline
CME Group began offering cattle and hog trading in the 1960s.
The new futures contracts are scheduled to launch on December 7, 2026.
Market Landscape
This entry marks a significant departure from the historical dominance of CME Group in agricultural futures. The addition of a new competitor positions Intercontinental Exchange to challenge the long-standing market structure and capture volume from incumbent livestock trading platforms.
The introduction of competing futures contracts may impact price discovery and hedging costs for producers and market participants. Traders and agricultural stakeholders should monitor these new listings as potential alternatives to existing CME Group instruments.
The takeaway
The competition between major exchanges suggests a shift toward more flexible, cloud-based trading infrastructure for agricultural commodities. Market participants should prepare for potential changes in execution speed and pricing mechanisms as these platforms modernize.
What happens next
The launch of the livestock futures contracts is set for December 7, 2026, pending regulatory review.
Further reading
For more on shifts in the industry, visit the Agriculture section.
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