CME change affects dairy daily price limits – eDairyNews
United States |1 julio, 2020

Dairy | CME change affects dairy daily price limits

Effective with trading on June 22, the CME Group amended the daily price limit rule for all dairy and livestock futures contracts.

Although not widely released, the changes were outlined in a “special executive report” dated May 27 and amend all dairy and livestock futures contracts.

Under the changes, the Class III and Class IV milk futures still have a daily price limit change of 75 cents per hundredweight (cwt) above or below the previous day’s settlement price. However, should any Class III or Class IV milk futures contract month settle at the limit up or down, it triggers expanded daily price limits for all contract months to $1.50 per cwt on the next business day. If none of the listed Class III or Class IV milk futures contracts settle at a price change equal to or greater than 75 cents per cwt on the next business day, daily price limits for all contract months revert back to 75 cents per cwt on the following business day.

The rule changes also affect cheese, block cheese, nonfat dry milk and dry whey futures, cash-settled butter, Class III Crush (Class III, cash-settled cheese, block cheese and dry whey) and Class IV Crush (Class IV, cash-settled butter and nonfat dry milk).

Outside of dairy, the rule affects live cattle and feeder cattle futures and lean hog futures.

Legal notice on Intellectual Property in digital content

All information contained in these pages that is NOT the property of eDairy News and is NOT considered "in the public domain" by legal regulations, are trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the norms contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable norms.

Any claim arising from the information contained on the eDairy News website will be submitted to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentine Republic, with a seat in the City of Córdoba, to the exclusion of any another jurisdiction, including the Federal.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

Related news