What is Hundredweight Cwt?
A hundredweight (CWT) is a standard unit of weight used in commodities trading and shipping, with different values in North America and the UK.
Definition
A hundredweight (CWT) is a unit of measurement used to define the quantities of certain commodities being bought and sold. It is used in some commodities trading contracts and for shipping packages that take up less than an entire truckload. The value of a hundredweight differs in its American and British usages. In the United States, a hundredweight is a unit of mass equal to 100 pounds. In the United Kingdom, a hundredweight is a unit of mass equal to 112 pounds. The two values are sometimes distinguished by referring to the American hundredweight as a “short hundredweight” and the British hundredweight as a “long hundredweight.” The short hundredweight is also sometimes called a “cental.”
Key Points
Usage of Hundredweight
The hundredweight (CWT) simplifies trading large quantities of commodities. It has distinct values in North America and the UK, leading to variations in its usage.
Historical Significance
CWT has a significant historical role in international trade.
Current Relevance
Its use is declining, mainly due to the metric system and changing industry preferences. However, CWT remains relevant in specific sectors, such as agriculture and certain commodities.
Examples
Commodity Trading
Many food items such as cattle, oil, seeds, and grains are measured using the hundredweight, along with products sold in bulk including paper and some chemicals or additives.
Shipping
Shipping by hundredweight is the preferred option for many businesses that frequently ship small packages that add up to less than a full truckload.
Frequently Asked Questions
What is the historical significance of CWT?
The hundredweight (CWT) has a rich history dating back centuries and has played a crucial role in simplifying international trade.
How does CWT differ between North America and the UK?
In North America, a hundredweight equals 100 pounds, while in the UK, it’s 112 pounds. These values are sometimes referred to as “short” and “long” hundredweights.
Is CWT still widely used today?
While its use has declined, CWT remains relevant in specific sectors, especially in agriculture and for trading certain commodities.
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Interchange Rate
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Income Averaging For Taxes
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