CME Group Pork Cutout

The Pork Cutout contract index is calculated by the wholesale price of pork cuts, or cutouts, that determine the value of one hog. CME Group Lean Hogs is the contract that looks at the trading and price of individual hogs.
Pork Cutout Futures 	Pork Cutout Futures 	Pork Cutout Futures 	
Contract Unit 	40,000 pounds 	40,000 pounds 	
Price Quotation 	U.S. cents per pound 	U.S. cents per pound 	
Trading Hours 	CME Globex: 	Monday - Friday: 8:30 a.m. - 1:05 p.m. CT 	
Trading Hours 	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 = $10.00 	0.00025 per pound = $10.00 	
Product Code 	CME Globex: PRK
CME ClearPort: PRK
Clearing: PRK 	CME Globex: PRK
CME ClearPort: PRK
Clearing: PRK 	
Listed Contracts 	2 Feb monthly contracts listed the business day after the termination of trading in the Aug contract month
2 Apr monthly contracts listed the business day after the termination of trading in the Oct contract month
2 May monthly contracts listed the business day after the termination of trading in the Dec contract month
2 Jun monthly contracts listed the business day after the termination of trading in the Dec contract month
2 Jul monthly contracts listed the business day after the termination of trading in the Feb contract month
2 Aug monthly contracts listed the business day after the termination of trading in the Apr contract month
2 Oct monthly contracts listed the business day after the termination of trading in the May contract month
2 Dec monthly contracts listed the business day after the termination of trading in the Jun contract month"	2 Feb monthly contracts listed the business day after the termination of trading in the Aug contract month
2 Apr monthly contracts listed the business day after the termination of trading in the Oct contract month
2 May monthly contracts listed the business day after the termination of trading in the Dec contract month
2 Jun monthly contracts listed the business day after the termination of trading in the Dec contract month
2 Jul monthly contracts listed the business day after the termination of trading in the Feb contract month
2 Aug monthly contracts listed the business day after the termination of trading in the Apr contract month
2 Oct monthly contracts listed the business day after the termination of trading in the May contract month
2 Dec monthly contracts listed the business day after the termination of trading in the Jun contract month"	
Settlement Method 	Financially Settled 	Financially Settled 	
Termination of Trading 	Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT	Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT 	
Settlement Procedures 	Pork Cutout Settlement Procedures 	Pork Cutout Settlement Procedures 	Pork Cutout Settlement Procedures
Position Limits 	CME Position Limits 	CME Position Limits 	
Exchange Rulebook 	CME 156 	CME 156 	
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds 	
Price Listing or Circuit 	Price Limits 	Price Limits 	
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing 	
Pork Cutout Option 	Pork Cutout Option 	Pork Cutout Option 	
Contract Unit 	1 futures contract for 40,000 pounds 	1 futures contract for 40,000 pounds 	
Minimum Price Fluctuation 	Full Tick = $.00025 per pound (=$10 per contract);
Half Tick = $.000125 per pound (=$5 per contract) 	Full Tick = $.00025 per pound (=$10 per contract);
Half Tick = $.000125 per pound (=$5 per contract) 	
Price Quotation 	U.S. cents per pound 	U.S. cents per pound 	
Trading Hours 	CME Globex: 	Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET) 	
Trading Hours 	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 	
Product Code 	CME Globex: PRK
CME ClearPort: PRK
Clearing: PRK 	CME Globex: PRK
CME ClearPort: PRK
Clearing: PRK 	
Listed Contracts 	Contracts listed for:
2 months each of May and Jun listed in December.
2 months of Jul listed in February.
2 months of Aug listed in April.
2 months of Oct listed in May.
2 months of Dec listed in June.
2 months of Feb listed in August.
2 months of Apr listed in October 	Contracts listed for:
2 months each of May and Jun listed in December.
2 months of Jul listed in February.
2 months of Aug listed in April.
2 months of Oct listed in May.
2 months of Dec listed in June.
2 months of Feb listed in August.
2 months of Apr listed in October 	
Termination of Trading 	Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT. 	Trading terminates on the 10th business day of the contract month, 12:00 p.m. CT. 	
Position Limits 	CME Position Limits 	CME Position Limits 	
Exchange Rulebook 	CME 156A 	CME 156A 	
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds 	
Vendor Codes 	Quote Vendor Symbols Listing 	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 $0.02 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.01 per pound increments in the nearest 3 months.	Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.02 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.01 per pound increments in the nearest 3 months.	Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.02 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.01 per pound increments in the nearest 3 months.
Exercise Procedure 	American Style See CME Rule 152A02 	American Style See CME Rule 152A02 	
Settlemnt Method 	Deliverable 	Deliverable 	
Underlying 	Pork Cutout Futures 	Pork Cutout Futures 	
== Notes ==
==References==
== Resources ==
*CME Group Pork Cutout Contract Specs
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