Do you want to invest in the livestock business? In this article we are going to give you ideas on how to invest and exchange financial data quickly and safely with a commodities rates API!
Live cattle futures contracts are a form of futures contract that may be used to hedge and speculate on the price of feed cattle. On the Chicago Mercantile Exchange, live cattle futures are standardized, exchange-traded contracts (CME). The contracts include the delivery of full-grown calves that have achieved a weight of between 1,200 and 1,400 pounds and are ready to be delivered to meat processors.
Because futures were primarily traded on storable commodities like grain at the time, the introduction of live cattle futures in 1964 was a bold step. Since then, the live cattle futures contract has gone through a number of revisions, each of which has improved the instrument’s use in risk management systems. Cattle farmers have been able to adjust their prices thanks to these techniques.
To put it simply, the cattle market is driven by supply and demand, which is influenced by a number of factors. One of them is that the bulk of cattle are born in the spring, which means that they are presented in the autumn, which means that there are much more calves for sale in the fall than in the spring.
The use of a contract for difference (CFD) derivative instrument is one approach to trade live cattle. Traders can speculate on the price of live cattle using CFDs. The difference between the price of live cattle at the time of purchase and the current price is the value of a CFD. Live cattle futures contracts represent 40,000 pounds of marketable cattle and are traded on the open market, for that are traded electronically on Commodities-API platform.
An Overview of Commodities-API
It’s a website that sells monetized data on things like coffee, cereals, and oils, among other things. It obtains them through an API, which is accomplished in under a minute by establishing relationships with financial institutions.
A Straightforward Registration
Commodities-API has the benefit of being a very user-friendly website. To do so, take the following steps:
• Go to the website and create an account.
• Select a trading currency and a goods.
• Make an API request from the dashboard, and the app will respond with an API response, and you’re ready to go!
Ultimate Security
Their API gets commodity pricing data from over 15 reputable data sources every minute. Among the sources are banks and financial data businesses. They also use bank-grade 256-bit SSL encryption to protect your connection. Thousands of developers, small enterprises, and large organizations utilize Commodities-API on a regular basis. This API is the most popular site for commodity rates because of its credible data sources and more than six years of experience.
Having Access To Previous Information
On the Commodities-API platform, you may access information for days, weeks, months, and even years prior to August 2021. To do so, go to the drop-down box and choose “historical rates,” then input the date in digital format (YYYY-MM-DD) in the URL.