CASH-SETTLED BUTTER FUTURES - CONTRACT SPECS

Contract Unit 20,000 pounds (˜9 metric tons)
Price Quotation U.S. cents per pound
Trading Hours CME Globex: Sundays 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 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Minimum Price Fluctuation 0.00025 per pound = $5.00
Product Code CME Globex: CB
CME ClearPort: CB
Clearing: CB
Listed Contracts Monthly contracts listed for 24 consecutive months
Settlement Method Financially Settled
Termination Of Trading Trading terminates at 12:10 p.m. CT on the business day prior to the USDA announcement of the weighted average price for Butter.
Settlement Procedures Dairy Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 56
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing