Did you know that there are different types of investment you can make in the market? One of them is live cattle and you can do it through a commodities rates API! Just read this post!
There are different types of commodities. They are used as raw materials to create other goods. Products that are intended for commercial use and have as their most significant characteristic that they have no added value, are unprocessed, or have no distinguishing characteristics from other products that we find on the market are referred to as basic goods.
Chicago’s farmers, who traded their harvests with other customers, helped give rise to the commodities market in the middle of the eighteenth century. The same farmers continue to negotiate over time, but now they do it through significant middlemen rather than after the crops have been harvested.
A type of futures contract called it´s live cattle futures contract can be used to speculate and hedge on the price of feed cattle. Live cattle futures are standardized, exchange-traded contracts that are traded on the Chicago Mercantile Exchange (CME). According to the contracts, full-grown calves that have reached a weight of 1,200 to 1,400 pounds and are prepared to be shipped to meat processors are included.
Live Cattle, as used in the commodities market, refers to cattle that are industrially grown for beef production from the time they are calves until they weigh between 600 and 800 pounds. They are sent to feedlots to continue the process of fattening because they are now regarded as feeder cattle. When the Feeder Cattle finally weigh around 1,250 pounds, they are killed to generate meat. Due to this numbers, we recommend you the use of Commodities-API to stay informed about live cattle commodities.
What Is Commodities-API?
It is a website where users may find data that has been paid for on goods like coffee, grains, and oils, among other things. It makes connections with financial institutions in less than a minute using an API to access them.
How Does It Work?
The feature of Commodities-API is how easy and practical it is to use. Follow the steps listed below to achieve this:
• Visit the website and create an account there.
• Find the symbol for live cattle and the currency you wish to check.
• Call an API from the dashboard and wait for an API response from the software.
Where Does The Information Come?
This platform’s API gathers data on commodity and currency values every minute from more than 15 dependable data sources. The World Bank itself, banks, and businesses that provide financial data are some of the sources.
Is It Safe For Their Users?
Yes, Commodities-API uses SSL encryption to secure web-to-web connections. Financial institutions utilize this type of protection because the API it uses receives information from financial organizations like the World Bank.
Can I Get Previous Informs?
Yes, you can get reports on the platform of Commodities-API for the days, weeks, months, and even years leading up to August 2021. To achieve this, you must select the “historical rates” option and provide the date in the URL using the digital format (YYYY-MM-DD).