Chicago Merchantile Exchange (CME) Live Hogs futures and options contracts have undergone considerable improvements. Effective with the February 1997 contract, new and improved specifications, including a new name -Lean Hogs- make this contract even a more viable hedging tool for producers and packers throughout the U.S.
The new cash settlement feature also makes this a viable hedging tool for international producers and pork importers/exporters.
Lean Hog Futures: 40,000 pounds of lean value hog carcasses
Lean Hog Options: One Lean Hogs Futures Contract
Lean Hog Futures: 9:10 a.m. to 1:00 p.m. LTD (12:00pm)
Lean Hog Options: 9:10a.m. to 1:02 p.m. LTD (12:00pm)
British Pound Futures: Six months in the March quarterly Cycle March, June, Sep, Dec.
British Pound Options: Four months in the March cycle and two months not in the March cycle(serial months), plus 4 weekly Expiration options
Lean Hog Futures and Options: 1 point = $.0001 per hundred pounds = $4.00
Lean Hog Futures: Nine months of February, April, June, July, August, October, and December. Effective 6/4/01, May is eligible.
Lean Hog Options: Eight months of February, April, June, July, August, October, December, and Flex Options. Effective 6/04/01, May is eligible.
Lean Hog Futures: $0.02/lb, 200 points, $800 see Rule 1602 D
Minimum Price Fluctuation
Lean Hog Futures: 0.00025 = $10.00
Lean Hog Options: 0.00025 = $10.00 Regular, 0.000125 = $5.00 Cab