CME Group Milk Class IV

Milk Class IV Futures 	Milk Class IV Futures 	Milk Class IV Futures
Contract Unit 	200,000 pounds (2,000 hundredweight (cwt)) 	200,000 pounds (2,000 hundredweight (cwt))
Price Quotation 	U.S. dollars and cents per cwt 	U.S. dollars and cents per cwt
Trading Hours 	CME Globex: 	Sunday - Friday 5:00 p.m. - 1:55 p.m. CT with a daily trading halt from 4:00 p.m. to 5:00 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	0.01 per cwt. = $20.00 	0.01 per cwt. = $20.00
Product Code 	CME Globex: GDK
CME ClearPort: DK
Clearing: DK 	CME Globex: GDK
CME ClearPort: DK
Clearing: DK
Listed Contracts 	Monthly contracts listed for 24 consecutive months 	Monthly contracts listed for 24 consecutive months
Settlement Method 	Financially Settled 	Financially Settled
Termination of Trading 	Trading terminates on the business day prior to the day on which the USDA announcement of the price for that contract month.	Trading terminates on the business day prior to the day on which the USDA announcement of the price for that contract month.
Settlement Procedures 	Class IV Milk Settlement Procedures 	Class IV Milk Settlement Procedures
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 55 	CME 55
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
Milk Class IV Options 	Milk Class IV Options 	Milk Class IV Options
Contract Unit 	200,000 Pounds 	200,000 Pounds
Minimum Price Fluctuation 	Full Tick: 0.01 per cwt = $20.00
Half tick: 0.005 per cwt = $10.00 	Full Tick: 0.01 per cwt = $20.00
Half tick: 0.005 per cwt = $10.00
Price Quotation 	U.S. dollars and cents per hundred weight 	U.S. dollars and cents per hundred weight
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: 	Monday - Friday: 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: GDK
CME ClearPort: DK
Open Outcry: DK
Clearing: DK 	CME Globex: GDK
CME ClearPort: DK
Open Outcry: DK
Clearing: DK
Listed Contracts 	Monthly contracts listed for 24 consecutive months 	Monthly contracts listed for 24 consecutive months
Settlement Procedures 	Option on physical delivery futures contract 	Option on physical delivery futures contract
Termination of Trading 	Trading terminates at 12:10 p.m. CT on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month.	Trading terminates at 12:10 p.m. CT on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month.
Position Limits 	CME Position Limits 	CME Position Limits
Exchange Rulebook 	CME 55A 	CME 55A
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 $0.0025 per pound increments in all months. 	Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.0025 per pound increments in all months.
Exercise Procedure 	American Style See CME Rule 55A02 	American Style See CME Rule 55A02
Settlement Method 	Deliverable 	Deliverable
Underlying 	Class IV Milk Futures 	Class IV Milk Futures
== Notes ==
== Resources ==
*CME Group Milk Class IV Contract Specifications
*Class IV Settlement Procedures
*CME Position Limits
*CME 55
*Block Minimum Thresholds
*Price Limits
*Quote Vendor Symbols Listing
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Category:Milk Futures Contracts
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