CME Group Random Length Lumber

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Random Length Lumber Futures
Contract Unit 110,000 nominal board feet (˜260 cubic meters)
Price Quotation Dollars per 1,000 board feet (mbf)
Trading Hours CME Globex: Monday - Friday: 9:00 a.m. - 3:05 p.m. CT
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
Product Code CME Globex: LBS

CME ClearPort: LB

Clearing: LB

Listed Contracts Jan, Mar, May, Jul, Sep, Nov
Settlement Method 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
Settlement Procedures Lumber Futures Settlement Procedures
Position Limts CME Position Limits
Exchange Rulebook CME 201
Block Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
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

Price Quotation Dollars per 1,000 board feet (mbf)
Trading Hours CME Globex: Monday - Friday: 9:00 a.m. - 3:05 p.m. CT
Open Outcry: Monday - Friday 9:00 a.m. -3:05 p.m. CT
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

Listed Contracts Regular Jan, Mar, May, Jul, Sep, Nov
Serial Feb, Apr, Jun, Aug, Oct, Dec
Termination of Trading 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.

Exchange Rulebook 201A
Block Minimum Block Minimum Thresholds
Vendor Codes 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
Exercise Procedure American style. See CME Rule 201A02.
Settlement Method Deliverable
Underlying Random Length Lumber Futures

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