• REMINDER: Live Cattle Procedures

      • To
      • Clearing Member Firms; Back Office Managers; Delivery Personnel
      • From
      • CME Clearing
      • #
      • 10-418
      • Notice Date
      • 01 October 2010
      • Effective Date
      • 01 October 2010
    • Prior to entering a Live Cattle intent into the Deliveries application, the delivery point stockyard must be contacted to verify they can accommodate a live-graded delivery on that delivery day, per Rule 10104.A:
       
       
      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 grading under Rule 10103.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.
       
      In addition, clearing member firms must also send an email to CME Clearing at ClearingHouseDelivTeam@cmegroup.com  with the contact name and number of the individual at the stockyard authorizing a live delivery on an available delivery date. 
       
      If there are any questions or concerns, please contact Deliveries at (312) 930-3172.
       

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