CME Group Milk Class IV
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| Milk Class IV Futures | ||
|---|---|---|
| Contract Unit | 200,000 pounds (2,000 hundredweight (cwt)) | |
| Price Quotation | U.S. dollars and cents per cwt | |
| Trading Hours | CME Globex: | Sunday - Friday 5:00 p.m. - 1:55 p.m. CT with a daily trading halt from 4:00 p.m. to 5:00 p.m. CT |
| CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | |
| Minimum Price Fluctuation | 0.01 per cwt. = $20.00 | |
| Product Code | CME Globex: GDK
CME ClearPort: DK Clearing: DK | |
| Listed Contracts | Monthly contracts listed for 24 consecutive months | |
| Settlement Method | Financially Settled | |
| Termination of Trading | Trading terminates on the business day prior to the day on which the USDA announcement of the price for that contract month. | |
| Settlement Procedures | Class IV Milk Settlement Procedures | |
| Position Limits | CME Position Limits | |
| Exchange Rulebook | CME 55 | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| Vendor Codes | Quote Vendor Symbols Listing | |
| Milk Class IV Options | ||
|---|---|---|
| Contract Unit | 200,000 Pounds | |
| Minimum Price Fluctuation | Full Tick: 0.01 per cwt = $20.00
Half tick: 0.005 per cwt = $10.00 | |
| Price Quotation | U.S. dollars and cents per hundred weight | |
| Trading Hours | CME Globex: | Sundays at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m. |
| Open Outcry: | Monday - Friday: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.) | |
| CME ClearPort: | Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT | |
| Product Code | CME Globex: GDK
CME ClearPort: DK Open Outcry: DK Clearing: DK | |
| Listed Contracts | Monthly contracts listed for 24 consecutive months | |
| Settlement Procedures | Option on physical delivery futures contract | |
| Termination of Trading | Trading terminates at 12:10 p.m. CT on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month. | |
| Position Limits | CME Position Limits | |
| Exchange Rulebook | CME 55A | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| Vendor Codes | Quote Vendor Symbols Listing | |
| Strike Price Listing Procedures | Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.0025 per pound increments in all months. | |
| Exercise Procedure | American Style See CME Rule 55A02 | |
| Settlement Method | Deliverable | |
| Underlying | Class IV Milk Futures | |