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WIKI ANALYSIS
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This article describes a futures contract with a discrete termination or delivery date. View articles referencing this futures contract. |
This article is about Class III milk. For Class IV milk, see the article on Class IV Milk Futures. For dairy prices in general, see Dairy Prices.
Milk when referred to as a commodity generally means cow's milk, specifically Class III Milk. Milk Class III futures are traded on the Chicago Mercantile Exchange under ticker symbol DA in cents per hundredweight. For electronic trading sessions, the symbol DC is used.[1]
The chart at left shows front-month Milk Class III futures prices on the Chicago Mercantile Exchange (CME) in cents per hundredweight.
Delivery Dates
Milk Class III futures are delivered in every month of the year.[1] The following is a table with Milk Class III futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.
| Delivery Month | Full Ticker Symbol | Thomson-Reuters Symbol |
| January, 2009 | DAF9 | DA/F9-CM |
| February, 2009 | DAG9 | DA/G9-CM |
| March, 2009 | DAH9 | DA/H9-CM |
| April, 2009 | DAJ9 | DA/J9-CM |
| May, 2009 | DAK9 | DA/K9-CM |
| June, 2009 | DAM9 | DA/M9-CM |
| July, 2009 | DAN9 | DA/N9-CM |
| August, 2009 | DAQ9 | DA/Q9-CM |
| September, 2009 | DAU9 | DA/U9-CM |
| October, 2009 | DAV9 | DA/Q9-CM |
| November, 2009 | DAX9 | DA/X9-CM |
| December, 2009 | DAZ9 | DA/Z9-CM |
Contract Specifications
Contract Size
One Milk Class III futures contract on the Chicago Mercantile Exchange is 200,000 pounds.[1]
Daily Price Limit
$0.75 per cwt above or below the previous day's settlement price.[1]
Trading Hours
- On the CME Globex electronic platform: Monday 9:05 AM through Friday 1:55 PM with daily trading halts from 4:00 PM - 5:00 PM, US Central Time.[1]
- Open Outcry (pit session): Monday through Friday, 9:05 AM to 1:00 PM.[1]
Last Trading Day
Trading of Milk Class III futures contracts on the Chicago Mercantile Exchange ends on the business day immediately preceding the day on which the USDA announces the Class III price for that contract month. (LTD 12:10 p.m.).[1]
Deliverable Grades
Deliverable Milk Class III grades for futures contracts on the Chicago Mercantile Exchange are: Class III Milk.[1]
See Also
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 The Chicago Mercantile Exchange's contract specification for Milk Class III futures
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