NYSE — parent ICE to launch cattle futures in challenge to CME Group

By Tom Polansek CHICAGO, Oct 13 (Reuters) — Intercontinental Exchange plans to launch its first cattle and hog futures contracts on December 7, the market operator said on Tuesday, in a challenge to rival CME Group. The New York Stock Exchange parent intends to offer physically delivered US live cattle futures, along with financially settled futures for live cattle, feeder cattle and lean hogs, pending regulatory review, according to a notice. The first listed month for physically delivered live cattle will be June 2027, the notice said. "We received significant inbound customer demand from those seeking credible alternatives to what has historically been a singular choice for cattle," said Trabue Bland, senior vice president of exchanges at ICE. CME, which operates benchmark live cattle, feeder cattle and lean hog markets, had no comment about ICE's plans. CME live cattle set record highs this year as the US herd shrank to a 75-year low and beef prices reached records for consumers. ICE's physically delivered live cattle will trade under the symbol MOO and have the same contract size, trading hours and contract months as CME futures, according to contract specifications. On Monday