This chapter focuses on the history of cattle trading on the commodities market. The Chicago Mercantile Exchange was born from butter and eggs, evolving by the late 1920s into a meaty livestock-oriented exchange, trading cattle, hogs and pork bellies, “fresh broilers,” and eggs. This chapter looks at the early cattle trade in New York, England's role in the development of beef trade in the United States, how the West became a primary location for cattle trade, the rise of Chicago's Beef Trust, and the inauguration of futures contract trading in live cattle on the Chicago Mercantile Exchange.
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