CME Group Dry Whey
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On Feb 9th, 2021, the CME designated the Classic Transportation & Warehousing (1175 147th Avenue. Maryland, MI) as an Approved Warehouse for Spot Call Nonfat Dry Milk and Spot Call Dry Whey delivery.
| Dry Whey Futures | ||
|---|---|---|
| Contract Unit | 44,000 lbs. of Dry Whey ( ˜20 metric tons) | |
| Price Quotation | Cents per pound | |
| 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. |
| 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 | $0.00025 per pound (= $11.00 per contract) | |
| Product Code | CME Globex: DY
CME ClearPort: DY Clearing: DY | |
| Listed Contracts | 24 Calendar Months | |
| Settlement Method | Financially Settled | |
| Termination of Trading | Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.) | |
| Settlement Procedure | Dry Whey Settlement Procedures | |
| Position Limits | CME Position Limits | |
| Exchange Rulebook | CME 57 | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| Vendor Codes | Quote Vendor Symbols Listing | |
| Dry Whey Options | ||
|---|---|---|
| Minimum Price Fluctuation | Full Tick: $0.00025 per pound (= $11.00 per contract)
Half Tick: $0.000125 per pound (= $5.50 per contract) | |
| Price Quotation | Cents per pound | |
| 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. |
| Open Outcry: | MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.) | |
| 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: DY
CME ClearPort: DY Open Outcry: DY Clearing: DY | |
| Listed Contracts | Monthly contracts listed for 24 consecutive months | |
| Termination of Trading | Trading terminates on the business day immediately preceding the day on which the USDA announces the Dry Whey price for that contract month. (LTD 12:10 p.m.) | |
| Position Limits | CME Position Limits | |
| Exchange Rulebook | CME 57A | |
| Block Minimum | Block Minimum Thresholds | |
| Price Limit or Circuit | Price Limits | |
| 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 $0.01 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.005 per pound increments in the nearest 2 months. | |
| Exercise Procedure | American Style See CME Rule 57A02 | |
| Settlement Method | Deliverable | |
| Underlying | Dry Whey Futures | |