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Commodity future 2.

A futures whose underlying is a physical commodity.

There are various types of physical commodity futures: agricultural futures, whose underlying can be a cereal or other plant-based product, meat, seafood or a dairy product; livestock futures, whose underlying is made up of farm animals such as cattle or hogs; metals futures, whose underlying is a metal, for example gold, silver, copper or platinum; and energy futures, whose underlying can be crude oil, natural gas, electricity, gasoline, propane or heating oil.