Chapter 61
Block Cheese Futures
6100. SCOPE OF CHAPTER
This chapter is limited in application to Block Cheese futures. In addition to this chapter, Block Cheesefutures shall be subject to the general rules and regulations of the Exchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred to herein shall refer to andindicate Chicago time.

6101. CONTRACT SPECIFICATIONSEach futures contract shall be valued at 20,000 times the USDA monthly weighted average price perpound in the U.S. for 40-pound block cheddar cheese.

6102. TRADING SPECIFICATIONS
6102.A.
Trading Months and Hours
Futures contracts shall be scheduled for trading during such hours and final settlement in such months
as may be determined by the Exchange.
6102.B.
Trading Unit
The unit of trading shall be 20,000 pounds of cheddar cheese in 40-pound blocks, colored between 6
and 8 on the National Cheese Institute color chart, meeting Wisconsin State Brand, USDA Grade A, orbetter standards.
6102.C.
Price Increments
Minimum price fluctuations shall be in multiples of $0.0010 per pound.
6102.D.
Daily Price Limits
There shall be a daily price limit of $0.075 per pound above or below the previous day's settlement
price, except that there shall be no daily price limits in the spot month.
Should any Block Cheese contract that is subject to a daily price limit settle at limit, the daily pricelimits for all contract months shall expand to $0.150 per pound on the next business day.
If none of the listed Block Cheese futures contracts settle at a price change equal to or greater than
$0.075 per pound on the next business day, daily price limits for all contract months shall revert backto $0.075 per pound on the following business day. During the spot month period, the expiring
month contract shall be excluded from triggering expanded limits.
Should any futures component of the Class III Crush (Class III, Cash-Settled Cheese, Block Cheese,and Dry Whey) trigger an expanded limit, the daily price limits for other futures components shallalso expand on the same day. If no futures component settles at a price change equal to or greaterthan its respective initial price limit, daily price limits for all futures components of the Class III Crush
shall revert back to their respective initial limits the following business day.
6102.E.
Position Limits Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels, are set
forth in the Position Limit, Position Accountability and Reportable Level Table in the Interpretations &Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall apply to
the Market Regulation Department on forms provided by the Exchange, and the Market Regulation
Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
6102.F.
[Reserved]
6102.G.
[Reserved]
6102.H.
Termination of Futures Trading
Trading shall terminate on the Business Day immediately preceding the release date for the USDA
monthly weighted average price in the U.S. for 40-pound block cheddar cheese.
6102.I. [Reserved]© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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6103. SETTLEMENT PROCEDURES
6103.A. Final Settlement
There shall be no delivery of 40-pound block cheddar cheese in settlement of this contract. All
contracts open as of the termination of trading shall be cash settled based upon the USDA monthly
weighted average price in the U.S. for 40-pound block cheddar cheese.
6103.B-H. [Reserved]

6104.-08. [RESERVED](End Chapter 61)© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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