A NEW price risk management tool, which was launched to the Australian cattle industry earlier this year, has executed its first cattle swap with a major lot feeder involved in the trade.
StoneX launched its Australian Feeder Cattle Swap offering in February, which settles against the Australia northern feeder cattle index, published by Argus Media.
Charlie Mort
The counterparties to the trade were longstanding StoneX client Mort & Co, a Queensland-based lot feeder, and an East Coast-based cattle trader in Australia.
“StoneX and Argus have done well to create a feeder steer price index…
