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Cash-settled Butter Futures Contract Specs

Contract Unit 20,000 lbs. of Butter ( ˜9 metric tons)
Price Quotation Cents per pound
Trading Hours 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.
Minimum Price Fluctuation $0.00025 per pound (= $5.00 per contract)
Product Code CME Globex: CB
CME ClearPort: CB
Clearing: CB
Listed Contracts 24 Calendar Months
Settlement Method Financially Settled
Termination Of Trading Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Butter price for that contract month. (LTD 12:10 p.m.)
Settlement Procedures Dairy Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 56
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing