One of the most significant segments of the agricultural sector is the livestock industry. This is because more people require more food to survive each year as the population of the world rises. Cattle are utilized in the production of meat, dairy goods, leather, and other goods. Live cattle futures are a type of financial derivative contract that allows market participants to speculate on the future price of live cattle. These serve as a risk management tool for participants in the cattle industry, including producers, processors, and traders. They can also be used by speculators seeking to profit from price movements in the live cattle market. Live cattle futures are traded on commodity exchanges, such as the Chicago Mercantile Exchange (CME).
If you’re looking to access live cattle futures, there are a few tools that can help you with that task; however, the most practical one is via a live cattle price API. This kind of API allows you to access data about cattle futures contracts from another application. This data can include pricing information, trading volumes, and more. With this API, you can get real-time cattle prices as well as charts that will help you make more informed decisions regarding your investments.
So, if you’re looking for an API that can help you get live cattle futures; then you’ll need one that offers live cattle futures data. Fortunately, there are many APIs available on the market, but not all of them are reliable or easy to use for beginners. If you’re looking for a beginner’s guide on how to get live cattle futures via an API, then we suggest using the commodities API.
Commodities API
The commodities API is a tool that allows you to access real-time data on cattle and other asset futures contracts. With this data, you can track market trends and make informed decisions about your investments. In addition to real-time data, this API also provides historical data that you can use to track market trends over time. This API is also ideal for upcoming developers since it will help them save time and money by allowing them to use existing code rather than developing it themselves.
How To Get Live Cattle Futures Using This API
First, create an account on the commodities API website. Once you’re done, you can start making requests. What this API receives is a symbol (specific for different assets or data sets), additionally, it’s necessary to choose an endpoint and a currency. And finally, execute your request by clicking the “run” button. That’s all! You should start receiving live cattle futures data in no time!
For example, we wanted to find the live cattle price for February 2024 (LCG24), we chose the “latest rates” endpoint, the “USD” currency, and the code “LCG24“. Following the API call, we received the following:
{"data":{"success":true,"timestamp":1687657800,"date":"2023-06-25","base":"USD","rates":{"LCG24":0.0054689636313919},"unit":{}}}
The previously described solution states that 0.0054689636313919 cattle units are equal to one US dollar.
Live cattle pricing APIs are quite useful for collecting cattle pricing information for business and trading purposes. The commodities API provides extremely comprehensive information that is not limited to giving data on the cattle market and is very easy to use. Make better decisions around different futures markets with this API now!
