CME Group Pork Cutout

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The Pork Cutout contract index is calculated by the wholesale price of pork cuts, or cutouts, that determine the value of one hog. CME Group Lean Hogs is the contract that looks at the trading and price of individual hogs.[1]

Pork Cutout Futures
Contract Unit 40,000 pounds
Price Quotation U.S. cents per pound
Trading Hours CME Globex: Monday - Friday: 8:30 a.m. - 1:05 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 0.00025 per pound = $10.00
Product Code CME Globex: PRK

CME ClearPort: PRK

Clearing: PRK

Listed Contracts 2 Feb monthly contracts listed the business day after the termination of trading in the Aug contract month

2 Apr monthly contracts listed the business day after the termination of trading in the Oct contract month 2 May monthly contracts listed the business day after the termination of trading in the Dec contract month 2 Jun monthly contracts listed the business day after the termination of trading in the Dec contract month 2 Jul monthly contracts listed the business day after the termination of trading in the Feb contract month 2 Aug monthly contracts listed the business day after the termination of trading in the Apr contract month 2 Oct monthly contracts listed the business day after the termination of trading in the May contract month 2 Dec monthly contracts listed the business day after the termination of trading in the Jun contract month"

Settlement Method Financially Settled
Termination of Trading Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT
Settlement Procedures Pork Cutout Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 156
Block Minimum Block Minimum Thresholds
Price Listing or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Pork Cutout Option
Contract Unit 1 futures contract for 40,000 pounds
Minimum Price Fluctuation Full Tick = $.00025 per pound (=$10 per contract);

Half Tick = $.000125 per pound (=$5 per contract)

Price Quotation U.S. cents per pound
Trading Hours CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
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: PRK

CME ClearPort: PRK

Clearing: PRK

Listed Contracts Contracts listed for:

2 months each of May and Jun listed in December. 2 months of Jul listed in February. 2 months of Aug listed in April. 2 months of Oct listed in May. 2 months of Dec listed in June. 2 months of Feb listed in August. 2 months of Apr listed in October

Termination of Trading Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT.
Position Limits CME Position Limits
Exchange Rulebook CME 156A
Block Minimum Block Minimum Thresholds
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 $0.02 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.01 per pound increments in the nearest 3 months.
Exercise Procedure American Style See CME Rule 152A02
Settlemnt Method Deliverable
Underlying Pork Cutout Futures

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