| Contract Size |
44,000 pound - Grade A or Extra Grade |
| Pricing Unit |
Cents per pound |
| Tick Size |
$11.00 |
| Price Bands |
$0.02250 (plus or minus) around the "CME Last Price" |
| Months Traded |
24 Months (June 2009 - May 2011) |
| Termination of Trading |
On the business day immediately preceding the last seven business days of the contract month |
| Settlement |
Delivery may be made only from approved locations within the 48 contiguous states. Par delivery of nonfat dry milk shall be made from approved warehouses in Chicago. Deliveries made from approved warehouses outside Chicago shall be subject to a freight allowance determined by the Exchange as follows: up to 400 miles outside of Chicago with a discount of $.00625 per pound; between 400 and 800 miles outside Chicago with a discount of $.0125 per pound; between 800 and 1200 miles outside Chicago with a discount of $.0195 per pound; between 1200 and 1600 miles outside Chicago with a discount of $.0260 per pound; and beyond 1600 miles outside Chicago with a discountj of $.0345 per pound. The allowance shall be calculated on the net weight delivered. |
| Position Limits |
Spot month, as of the close of business on the business day preceding the last 5 trading days: 500 contracts
Other months: 1000 contracts |
Trading Hours
(All times listed are Central Time) |
CME Globex (Electronic Platform)
Monday-Thursday 9:05 a.m.- 4:00 p.m. Central Time Shutdown period from 4:00 p.m. - 5:00 p.m. Central Time Reopen 5:00 p.m.- 4:00 p.m. Friday, Close at 1:55 p.m. Central Time
|
Last Trade Date/Time
View Calendar |
12:10 p.m. If the LTD is on a day that the market closes early, then the time is 11:10 a.m |
| Ticker Symbol |
CME Globex = GNP
Clearing = GNP
View Product Codes
View Vendor Codes |
| Exchange Rule |
These contracts are listed with, and subject to, the rules and regulations of CME. |
