UPDATE 1 — NYSE — parent ICE to launch cattle futures in challenge to CME Group

(Adds analyst comment) 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. On Monday, CME canceled plans to temporarily migrate electronically traded livestock futures and options to Dallas from the Chicago region as part of a system shift to Google Cloud. The company said it was making faster progress than it expected on plans to migrate markets to the cloud. CME's plan to tempo