| As you were recently informed, CME introduced its new pricing framework for 2001. One of the new fees, effective February 1, 2001, is a $25.00 per contract delivery fee for all agricultural deliveries. Summarized below is specific information to assist you in administering the delivery fee. Both the buying firm and the selling firm involved in the physical delivery will be charged. Firms will receive notice on their subsequent monthly CME billing statement. Any agricultural physical delivery in February 2001 will appear on the billing statement issued in March. The following deliverable agricultural products that go through delivery will be charged a $25.00 delivery fee, per delivery contract. - Butter Futures
- Pork Belly Futures
- Live Cattle Futures
- Lumber Futures
- North Central OSB
- Southeastern OSB
- Southwestern OSB
- Spot Butter*
- Spot Cheese
- Spot Nonfat Dry Milk
Because of the certificate delivery in live cattle, only the initiating selling (delivering) firm and the ultimate buying (receiving) firm will be charged the $25.00 delivery fee. Live cattle that are re-tendered at a discount will not be charged a delivery fee. Live cattle that are re-claimed by the initiating selling firm will not be charged a delivery fee. There is no fee distinction for live or carcass delivery. If you have any questions on the delivery charges, please contact John Broderick, Director, Clearing Operations at (312) 930-3190 or Steve Staszak, Director, Operations at (312) 930-3189. *Currently, a $5.00 per delivery contract charge is applied to all spot deliveries. The new $25.00 delivery fee replaces the $5.00 charge. | 