Clearing House Advisory Notices
To | Clearing Member Firms, Back Office Managers, Delivery Personnel
From | CME Clearing
Subject | Interruption of Live Cattle Deliveries at Syracuse, Kansas.
Notice Date | 2008-08-04
Notice Number | 08-173
Effective Date | 2008-08-04
Please be advised the scale located at Syracuse, Kansas for cattle deliveries will be unavailable the week of August 12-15 of 2008. As a result, live cattle intents will not be accepted in the Deliveries System beginning Monday, August 4 through Thursday, August 7. Live cattle deliveries will resume on Monday, August 18 at Syracuse, KS. Per Rule, 10104.A. TENDERING A CERTIFICATE market participants anticipating to make delivery should select an alternate CME Group-approved delivery point. INTERPRETATION OF RULE 10104.A.—TENDERING A CERTIFICATE The seller is responsible for determining, in advance of tendering a Certificate, if the delivery point stockyards will be able to accommodate a live-graded delivery on the sixth business day following the day of tender(fourth business day following the day of tender if tender is on or after the last trading day) should the buyer request one. If the buyer requests a live-graded delivery which the stockyards is unable to accommodate, then this will be deemed a failure by the seller to present a load of cattle for USDA inspection under Rule 10104.B.8. In addition, the Exchange may prohibit deliveries on certain days for certain locations at which it deems deliveries would not be feasible due to auctions or other activities. If you have any questions regarding this matter, please contact Paul Peterson, Director, Commodity Research & Product Development at (312) 930-4587 or Deliveries at (312) 930-3172. For the printer-friendly version of this advisory, please click here.