cme @

me Chicago Mercantile Exchange

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March 29, 2006

Ms. Jean A. Webb

Office of the Secretariat

Commodity Futures Trading Commission
Three Lafayette Centre

1155 21st Street, NW

Washington, DC 20581

Re: Rule Certification of Amendment to CME Rule 10203.A.1 and Delay in Listing March 2007 Feeder
Cattle pursuant to CFTC Regulation §40.6(a). CME Submission #06-33.

Dear Ms. Webb:

On March 28, 2006 the Exchange approved an amendment to CME Feeder Cattle Futures Rule
10203.A.1. The amendment will include “calves” in the calculation of the CME Feeder Cattle Index®. The
amendment will be effective for all newly listed contracts beginning with the March 2007 contract month.
The listing of that contract month had been scheduled for March 31 but will be temporarily delayed until
April 28.

A rule amendment for the change to the Index is noted below, with deletions overstruck:

FEEDER CATTLE FUTURES
10203. SETTLEMENT PROCEDURES

A. Final Settlement
There shall be no delivery of feeder cattle in settlement of this contract. All contracts open as of the
termination of trading shall be cash settled based upon the CME Feeder Cattle IndexTM for the seven
days ending on the Thursday on which trading terminates.
4. The Sample
The CME Feeder Cattle IndexTM is based upon a sample of transactions from these weight/frame score
categories: 650 to 849 pound Medium and Large Frame #1 feeder steers, and 650 to 849 pound Medium
and Large Frame #1-2 feeder steers.
The sample consists of all feeder cattle auction, direct trade, video sale, and Internet sale transactions
within the 12-state region of Colorado, lowa, Kansas, Missouri, Montana, Nebraska, New Mexico, North
Dakota, Oklahoma, South Dakota, Texas and Wyoming for which the number of head, weighted average
price and weighted average weight are reported by the Federal-State Market News Service on the USDA
Wire.
All direct trade reports shall be considered to be Friday transactions except for the mid-week Oklahoma
Range Sales Report, which shall be considered to be Tuesday transactions.
Multiple day sales, for which separate weighted average reports are not issued for each day or it is not
evident from the reports issued what cattle sold on which day, shall be entered into the index as if all
transactions occurred the final day of the sale.
Saturday and Sunday sales shall be entered into the index as if all transactions occurred on Monday.



Reports that are designated as "preliminary" shall not be entered into the index, and no transactions from
that location shail be used until a final report is issued.

Cattle identified in the report as being calves; fancy, thin, fleshy, gaunt or full; having predominantly dairy,
exotic or Brahma breeding; are excluded from the sample. Direct trade, video sale, and Internet sale
transactions must be quoted on an FOB basis, 3% standing shrink or equivalent, with pickup within 14
days.

The Exchange certifies that this interpretation complies with the Act and rules thereunder.
The Exchange solicited comments regarding the change. No substantive views that oppose adding
calves have been expressed. A suggestion was received from an industry association to include all

feeder cattle in the specified weight range. The Exchange has taken that suggestion under advisement
for future consideration.

Please contact Jack Cook at 312-930-3295 or jcook@cme.com if any questions arise. Please reference
our CME Submission #06-33 on all correspondence for this.

Sincerely,

John W. Labuszewski, Managing Director
Research & Product Development