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Class IV Milk Futures
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Class IV Milk Futures
Contract Size 200,000 lbs. of Class IV Milk ( ˜ 90 metric tons)
Price Quotation Class IV Milk
Pricing Unit Cents per hundredweight (cwt.)
Tick Size (minimum fluctuation) $0.01 per cwt (= $20.00 per contract)
Daily Price Limits $0.75 per cwt above or below the previous day's settlement price.
Trading Hours
(All times listed are Central Time)		 GLOBEX (Electronic Platform) 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 (Trading Floor) MON–FRI: 9:05 a.m. – 1:10 p.m. (LTD 12:10 p.m.)
Last Trade Date/Time
View Calendar		 Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month. (LTD 12:10 p.m.)
Contract Months
View Listings		 All Calendar Months
Settlement Procedure Cash Settlement See CME Rule 5503.A
Position Limits Non-Spot: 1,000 contracts in any contract month
Spot: n/a
All months combined: n/a
See CME Rule: 5502.E
Ticker Symbol View Product Codes
View Vendor Codes
Rulebook Chapter 55
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of the CME.