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Lean Hog Futures Contract Specs

Contract Unit 40,000 pounds (˜18 metric tons)
Price Quotation Cents per pound
Trading Hours Monday 9:05 a.m. Central Time/CT-Opening. At 4:00 p.m. CT on Monday- Thursday, the markets halt and restart at 8:00 a.m. CT on the next morning. Friday 1:55 p.m. CT-Close
Minimum Price Fluctuation $.00025 per pound ($10 per contract)
Product Code CME Globex: HE
CME ClearPort: LN
Clearing: LN
Listed Contracts Feb, Apr, May, Jun, Jul, Aug, Oct, Dec
Settlement Method Financially Settled
Termination Of Trading 10th business day of the contract month, 12:00 p.m.
Trade At Marker Or Trade At Settlement Rules Trading at settlement is available for first 2 listed futures contract months, a calendar spread between the first and second contract month, and are subject to the existing TAS rules. The Last Trade Date for CME Livestock TAS products will be the second to last business day in the month prior to the named contract month.

Trading in all CME Livestock TAS products will be 9:05-13:00 Chicago time on Mondays or on the Tuesdays that follow a Monday holiday, and Tuesday through Friday 8:00-13:00, Chicago time.

TAS products will trade a total of four ticks above and below the settlement price in ticks of the corresponding futures contract (0.00025), off of a "Base Price" of 0 to create a differential (plus or minus 4 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day.

Note: No May contract or calendar spread with the May expiration as a leg will have TAS in Lean Hog futures.
Settlement Procedures Lean Hog Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 152
Price Limit Or Circuit Price Limits
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