LIVESTOCK GROSS MARGIN  FOR CATTLE (LGM) has two programs - a 
yearling program and a calf program.  

Yearling -similar to being long corn, long feeders and short fats. The program uses 750 # feeders, 1250# fats and 57.5 bu of corn.  

Calf - similar to being long corn, long calves and short fats. The program uses
550# calves, 1150# fats and 54.5 bu of corn.  

Because all three of these commodities are combined into one option it should be cheaper than buying corn calls, feeder cattle calls and fat cattle puts.