CME Group Random Length Lumber

Random Length Lumber Futures	Random Length Lumber Futures 	Random Length Lumber Futures
Contract Unit 	110,000 nominal board feet (˜260 cubic meters) 	110,000 nominal board feet (˜260 cubic meters)
Price Quotation 	Dollars per 1,000 board feet (mbf) 	Dollars per 1,000 board feet (mbf)
Trading Hours 	CME Globex: 	Monday - Friday: 9:00 a.m. - 3:05 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 	0.10 per mbf = $11.00 per contract 	0.10 per mbf = $11.00 per contract
Product Code 	CME Globex: LBS
CME ClearPort: LB
Clearing: LB 	CME Globex: LBS
CME ClearPort: LB
Clearing: LB
Listed Contracts 	Jan, Mar, May, Jul, Sep, Nov 	Jan, Mar, May, Jul, Sep, Nov
Settlement Method 	Deliverable 	Deliverable
Termination of Trading 	Trading terminates on the business day immediately preceding the 16th calendar day of the contract month, 12:05 p.m. CT	Trading terminates on the business day immediately preceding the 16th calendar day of the contract month, 12:05 p.m. CT
Settlement Procedures 	Lumber Futures Settlement Procedures 	Lumber Futures Settlement Procedures
Position Limts 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 201 	CME 201
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
Random Length Lumber Options 	Random Length Lumber Options 	Random Length Lumber Options 	
Minimum Price Fluctuation 	Full Tick = 0.10 per mbf = $11.00 per contract;
Half Tick = 0.05 per mbf = $5.50 per contract 	Full Tick = 0.10 per mbf = $11.00 per contract;
Half Tick = 0.05 per mbf = $5.50 per contract 	
Price Quotation 	Dollars per 1,000 board feet (mbf) 	Dollars per 1,000 board feet (mbf) 	
Trading Hours 	CME Globex: 	Monday - Friday: 9:00 a.m. - 3:05 p.m. CT 	
Trading Hours 	Open Outcry: 	Monday - Friday 9:00 a.m. -3:05 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 	
Product Code 	CME Globex: LBS
CME ClearPort: LB
Open Outcry: Put: JL Call: KL
Clearing: LB 	CME Globex: LBS
CME ClearPort: LB
Open Outcry: Put: JL Call: KL
Clearing: LB 	
Listed Contracts 	Regular 	Jan, Mar, May, Jul, Sep, Nov 	
Listed Contracts 	Serial 	Feb, Apr, Jun, Aug, Oct, Dec 	
Listed Contracts 	Termination of Trading 	Trading terminates on the last business day of the prior month, 3:05 p.m. CT 	Trading terminates on the last business day of the prior month, 3:05 p.m. CT
Position Limits 	Non-Spot: 1,000 contracts in any contract month
Spot: n/a
All months combined: n/a
See CME Rule 201A01.F. 	Non-Spot: 1,000 contracts in any contract month
Spot: n/a
All months combined: n/a
See CME Rule 201A01.F. 	
Exchange Rulebook 	201A 	201A 	
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 $5 per 1,000 board feet (mbf) increments in all months	Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $5 per 1,000 board feet (mbf) increments in all months	
Exercise Procedure 	American style. See CME Rule 201A02. 	American style. See CME Rule 201A02. 	
Settlement Method 	Deliverable 	Deliverable 	
Underlying 	Random Length Lumber Futures 	Random Length Lumber Futures 	
== Notes ==
== Resources ==
*https://www.cmegroup.com/trading/agricultural/lumber-and-pulp/random-length-lumber_contract_specifications.html CME Group Random Length Lumber Contract Specifications]
*Lumber Futures Settlement Procedures
*CME Position Limits
*CME 201
*Block Minimum Thresholds
*Price Limits
*Quote Vendor Symbols Listing
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Category:Lumber Futures Contracts
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Category:Agricultural Options
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