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Block Cheese Futures Contract Specs

Contract Unit 20,000 pounds 
Price Quotation U.S. dollars per pound
Trading Hours CME Globex: Sunday at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
CME ClearPort: Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Minimum Price Fluctuation $0.001 per pound = $20.00
Product Code CME Globex: BLK
CME ClearPort: BLK
Clearing: BLK
Listed Contracts Monthly contracts listed for 24 calendar months.
Settlement Method Financially Settled
Floating Price USDA monthly weighted average price in the U.S. for block cheese
Termination Of Trading Trading terminates at 12:10 p.m. Central Time (CT) on the business day immediately preceding the release date for the USDA monthly weighted average price in the U.S. for cheese.
Settlement Procedures Dairy Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 61
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing