LE Futures (Live Cattle): Tick Value, Expiries, Order Flow

LE, the CME Live Cattle future, covers 40,000 pounds with a tick of $0.00025 per pound (0.025 cent), worth $10. LEV6, the front month on September 25, 2026, has its first notice day October 5, 2026 and last trading day October 30, 2026.

Senzoukria · Futures contracts · Updated September 2026

Contract specifications

Exchange
CME (CME Group)
Contract unit
40,000 pounds
Tick size
$0.00025 per pound (0.025 cent)
Tick value
$10
Value of one cent per pound
$400
Listed months in Senzoukria
G, J, M, Q, V, Z (Feb, Apr, Jun, Aug, Oct, Dec)
Last trading day
Last business day of the contract month
Settlement
Physical delivery
Front month on Sep 25, 2026
LEV6

LE contract specifications

The contract unit is 40,000 pounds, quoted in cents per pound. The minimum fluctuation is $0.00025 per pound (0.025 cent), worth $10 per contract, and one cent per pound is worth $400 per contract. Delivery may be made on any business day of the contract month and the first eleven business days of the following month. Senzoukria's contract table holds the tick as 0.025 with a multiplier of 400 on the CME venue code.

LE last trading day and next contracts

Trading ends on the last business day of the contract month.

Senzoukria's expiry engine keys on the last trading day, not on first notice day, so its default switch comes after first notice. For LEV6, the default moves to the next listed month on October 26, 2026 (4 calendar days before October 30, 2026), and LEV6 stays selectable with its badge until that date.

Next LE contracts in Senzoukria's listed months after September 25, 2026 (CME Group calendar, checked September 25, 2026)
ContractDelivery monthFirst notice dayLast trading day
LEV6October 2026Oct 5, 2026 (Mon)Oct 30, 2026 (Fri)
LEZ6December 2026Dec 7, 2026 (Mon)Dec 31, 2026 (Thu)
LEG7February 2027Feb 8, 2027 (Mon)Feb 26, 2027 (Fri)
LEJ7April 2027Apr 5, 2027 (Mon)Apr 30, 2027 (Fri)
LEM7June 2027Jun 7, 2027 (Mon)Jun 30, 2027 (Wed)

LE tick value and P&L arithmetic

  • One tick = 0.025 × $400 = $10 per contract.
  • One cent per pound = 40 ticks = $400 per contract.
  • 20 ticks (0.5 cents) = $200 per contract, $600 on 3 contracts.
  • One tick of slippage in the automatic backtest costs $10 per contract on each entry.

Reading LE order flow

With row resolution off, an LE footprint has one row per tick of 0.025 cents. The fixed steps give 2 ticks = 0.05, 4 ticks = 0.1, 8 ticks = 0.2, 16 ticks = 0.4, 32 ticks = 0.8 cents per row.

Live cattle is expressed in cents per pound in Senzoukria's table, with a 0.025-cent tick worth $10 on 40,000 pounds; one cent is $400. Physical delivery runs from first notice day, early in the contract month, into the following month, which is why LE's first notice day comes weeks before its last trading day. LE and GF share the tick size but not the unit: GF's 50,000 pounds make its tick $12.50.

Using LE in Senzoukria

  • Symbol picker on a Rithmic or Databento CME source: type LE; on September 25, 2026 the listed contract is LEV6 (October 2026), in the Livestock family.
  • Heatmap and DOM show that contract's book with CME as the venue in the ladder header.
  • Replay lists LE in the Livestock group. In the automatic backtest, set Point value ($) to 400; the field defaults to 2, the MNQ value.

In the same section

Sources

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Frequently asked questions

How much is one LE tick worth?
$10. The tick is $0.00025 per pound (0.025 cent) on 40,000 pounds; in Senzoukria's units that is 0.025 × $400 = $10.
When is first notice day for LE?
Early in the contract month, per the CME Group calendar: October 5, 2026 for LEV6, whose last trading day is October 30, 2026. Senzoukria's picker keeps LE until the last trading day, so a position that must avoid delivery has to be rolled earlier than the picker's default switch.

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