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Cash-Settled Cheese Futures Contract Specs

Contract Size 20,000 lbs. (~9 Metric Tons)
Pricing Unit U.S. cents per pound
Tick Value $0.001 per pound (= $20.00 per contract)
Daily Price Limits $.075 per pound above or below the previous day's settlement price, except there shall be no daily price limits in the spot month. Expandable limits for any contract. See CME Rule 6002.D
Trading Hours
(All times listed are Central Time)
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.
Last Trade Date/Time
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Trading shall terminate on the business day immediately preceding the release date for the USDA monthly weighted average price in the U.S. for cheese. LTD close is at 12:10 p.m. Central Time
Contract Months
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First 24 calendar months
Settlement Procedure Daily Dairy Settlement Procedure (PDF)
Final Cheese Futures Settlement Procedure (PDF)
Position Limits 1,000 contracts in any contract month
See CME Rule: 6002.E
Ticker Symbol
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Rulebook Chapter 60
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CME.