Contract Unit |
1 futures contract for 1,000 hundrefweight (cwt.) |
Minimum Price Fluctuation |
Outright: |
0.01 per cwt = $10.00 |
HALF TICK |
0.005 per cwt = $5.00 |
Price Quotation |
U.S. dollars and cents per cwt. |
Trading Hours |
CME Globex: |
Sunday – Friday 5:00 p.m. – 4:00 p.m. Chicago Time (CT) with a 60–minute break each day beginning at 4:00 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 |
Open Outcry: |
MON - FRI:! 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.) |
Product Code |
CME Globex: JQCME ClearPort: JQOpen Outcry: JQClearing: JQ |
Listed Contracts |
Monthly contracts listed for 24 consecutive months
|
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 Class III Milk.
|
Position Limits |
CME Position Limits |
Exchange Rulebook |
CME 52B |
Block Minimum |
Block Minimum Thresholds |
Price Limit Or Circuit |
Price Limits |
Vendor Codes |
Quote Vendor Symbols Listing |
Strike Price Listing Procedures |
Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.0025 per pound increments in all months. |
Exercise Procedure |
European Style See CME Rule 52B02 |
Settlement Method |
Deliverable |
Underlying |
Mid-Sized Milk Futures |