Please be advised that effective Tuesday, December 16, 2014, and pending all relevant CFTC regulatory review periods, the Chicago Mercantile Exchange Inc. (CME or Exchange) will amend the affidavits for delivering heifers against the Live Cattle futures contract (Rulebook chapter: 101; Clearing Code: LC; CME Open Outcry Code: LC; CME Globex Code: LE; CME ClearPort Code: 48) for all contract months beginning with the August 2015 contract.
Earlier this year, the CME amended the delivery procedures of the Live Cattle futures contract to allow delivery of heifers, beginning with the August 2015 contract month (see S-7033R dated March 5, 2014). The rules state that heifer delivery is contingent upon the heifer not being pregnant and not being in estrus, among other conditions. Sellers are required to attest to these conditions when submitting a notice of intent to deliver, by providing signed affidavits to the Exchange. The manner in which the seller demonstrates that these conditions have been met is subject to CME-approved medical and/or feeding protocols, which consist of several methods and which may change from time-to-time as dictated by cash market practices. The affidavits are amended to reflect certain adjustments needed due to the protocols that relate to each affidavit. The amended affidavits and corresponding protocols are shown below in Appendix 1.
Questions regarding this Special Executive Report may be directed to Jack Cook, Director, Commodity Research & Product Development, at 312-930-3295, Jack.Cook@cmegroup.com .
For media inquiries concerning this Special Executive Report, please contact CME Group Corporate Communications at 312-930-3434 or firstname.lastname@example.org.
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