If you are interested in harnessing real-time data for FCV23, we have the information you need. Keep reading!
Around 60 million metric tons of beef are consumed annually globally. Feeder cattle are a crucial component of the world’s ecosystem for the production of beef and a significant commodity on international markets. As a result, raising beef is a significant economic activity, and experts agree that feeding cattle can still be profitable even in the face of high input prices.
If you’re interested in learning how to profit from a feeder cattle API, contact us. A set of instructions known as an application programming interface, or API, enables two software applications to communicate with one another. In this case, the API will let you interact with the database of feeder cattle.
A multi-trillion dollar worldwide sector, beef production has a significant economic impact. Millions of people are employed in the beef industry, including suppliers, distributors, and retailers. Live cattle ultimately produce the beef and byproducts eaten all over the world.
When discussing beef futures, there are two types of cattle futures to trade: feeder cattle and live cattle. Although feeder and live cattle contracts are related, each has unique features that influence supply and demand.
Feeder cattle and live cattle are the two categories that livestock traders discriminate between. The stage of the production cycle that separates these two commodities is the difference. Weaned calves that weigh between 600 and 800 pounds are known as feeder cattle. Feeder cattle are now placed in a feedlot where they eat a high-energy diet made primarily of corn and other grains. In order for feeder cattle to achieve slaughter weights, they normally need to gain more than 500 pounds, hence corn prices have a significant effect on feeder cow pricing. Contrarily, live cattle are ‘finished’ goods that are offered for sale to slaughterhouses.
Commodities API
One of the best APIs currently available is the commodities API. The most recent pricing information is available for a wide range of commodities and investments. Depending on their requirements and interests, users of this API have a variety of options. They will then compile data on the previous and current pricing of these assets. Alternatives include grain, wheat, sugar, natural gas, and even pig parts.
Developers won’t need to start from scratch while utilizing the API. Because it can easily be integrated into already-existing websites and applications, this technology is a terrific choice for developers. Additionally, the commodities API makes data available in JSON format, which is accepted by all widely used programming languages.
Let’s take a look at the “Latest rates endpoint,” which offers details on the most current commodity rates for a certain currency, as an illustration. On October 2023, while looking for Feeder Cattle utilizing the base currency (USD) and the symbol (FCV23), the following information was found:
{"data":{"success":true,"timestamp":1688656260,"date":"2023-07-06","base":"USD","rates":{"FCV23":0.0040526849037487},"unit":{lb}}}
The easy-to-use Commodities API provides reliable data. To keep up with pricing changes for live cattle, sign up online. Select the base currency, symbols, and endpoint that best suit your needs after logging in. At the very end, click “run” to launch the API call. The API will respond right away with all the information you need!