CME Group Dry Whey

On Feb 9th, 2021, the CME designated the Classic Transportation & Warehousing (1175 147th Avenue. Maryland, MI) as an Approved Warehouse for Spot Call Nonfat Dry Milk and Spot Call Dry Whey delivery.
Dry Whey Futures 	Dry Whey Futures 	Dry Whey Futures
Contract Unit 	44,000 lbs. of Dry Whey ( ˜20 metric tons) 	44,000 lbs. of Dry Whey ( ˜20 metric tons)
Price Quotation 	Cents per pound 	Cents per pound
Trading Hours 	CME Globex: 	Sundays at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
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 (= $11.00 per contract) 	$0.00025 per pound (= $11.00 per contract)
Product Code 	CME Globex: DY
CME ClearPort: DY
Clearing: DY 	CME Globex: DY
CME ClearPort: DY
Clearing: DY
Listed Contracts 	24 Calendar Months 	24 Calendar Months
Settlement Method 	Financially Settled 	Financially Settled
Termination of Trading 	Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.)	Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.)
Settlement Procedure 	Dry Whey Settlement Procedures 	Dry Whey Settlement Procedures
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 57 	CME 57
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Dry Whey Options 	Dry Whey Options 	Dry Whey Options
Minimum Price Fluctuation 	Full Tick: $0.00025 per pound (= $11.00 per contract)
Half Tick: $0.000125 per pound (= $5.50 per contract) 	Full Tick: $0.00025 per pound (= $11.00 per contract)
Half Tick: $0.000125 per pound (= $5.50 per contract)
Price Quotation 	Cents per pound 	Cents per pound
Trading Hours 	CME Globex: 	Sundays at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
Trading Hours 	Open Outcry: 	MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.)
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: DY
CME ClearPort: DY
Open Outcry: DY
Clearing: DY 	CME Globex: DY
CME ClearPort: DY
Open Outcry: DY
Clearing: DY
Listed Contracts 	Monthly contracts listed for 24 consecutive months 	Monthly contracts listed for 24 consecutive months
Termination of Trading 	Trading terminates on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.) 	Trading terminates on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.)
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 57A 	CME 57A
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
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 $0.01 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 $0.005 per pound increments in the nearest 2 months.	Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.01 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 $0.005 per pound increments in the nearest 2 months.
Exercise Procedure 	American Style See CME Rule 57A02 	American Style See CME Rule 57A02
Settlement Method 	Deliverable 	Deliverable
Underlying 	Dry Whey Futures 	Dry Whey Futures
== Notes ==
== Also See ==
CME Group commodity products
== Resources ==
*Dry Whey Contract Specification
Category:CME Group
*Dry Whey Settlement Procedures
*CME Position Limits
*CME 57
*Block Minimum Thresholds
*Price Limits
*Quote Vendor Symbols Listing
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Category:Dry Whey Futures Contracts
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Category:Dry Whey Options
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