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> CME
|
Milk - Class III
| Contract Size |
| 200,000 lbs. of Class III milk. |
| Deliverable Grades |
| N/A |
| Tick Size |
1 point = $.01 per hundred weight = $20 per contract. |
| Price Quote |
U.S. dollars per hundredweight. |
| Contract Months |
| 24 months. |
| Last Trading Day |
| Business day immediately preceding the day on which the USDA announces the price for that contract month. |
| Settlement |
Cash settled based upon the USDA price at 3.5% butterfat for milk for the particular contract month. |
| Trading Hours |
9:40 a.m. - 1:10 p.m. LTD (12:10 p.m. If the LTD is on a day that the market closes early, then the time is 11:10 a.m.) |
| Ticker Symbols |
Clearing=DA; Ticker=DA |
| Daily Price Limit |
| There shall be no trading at a price more than $0.75 per hundredweight above or below the previous day's settlement price. |
| Ticker Symbols Exchange |
| CME |