CME Group Cash-Settled Butter

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Cash-Settled Butter futures
Exchange CME Group
Settlement Cash settled
Contract Size 20,000 times the USDA monthly weighted average price per pound in the US for Grade AA Butter
Pricing Unit 1 point = .00025 per pound = $5.00
Tick Value $0.00025 per pound (= $5.00 per contract)
Contract Months Twenty-four(24) consecutive calendar months.
Last Trading Day Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Butter price for that contract month. (LTD 12:10 p.m.)
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A 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.
Ticker Symbol N/A CB
Price Limits N/A $.05 per pound expanded to $.10 per pound after one day limit move. No limits during last 5 days of the expiring contract month.
 
Cash-Settled Butter options
Trade Unit One futures contract
Point Value 1 point = .00025 per pound = $5.00
Tick Value
  • Full Tick: $0.00025 per pound (= $5.00 per contract)
  • Half tick: $0.000125 per pound (= $2.50 per contract)
Option Months All twelve calendar months.
Strike Prices $0.02 intervals
Exercise Style American
  No Open Outcry Electronic
Trading Hours MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.) 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.
Ticker Symbol CB0 CB
Price Limits N/A None

Notes

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