Cash-Settled Butter Futures

 

Cash-Settled Butter futures are traded on the Chicago Mercantile Exchange under ticker symbol CB in cents per pound. Unlike other futures contracts on the Chicago Mercantile Exchange, cash-settled butter futures are traded exclusively electronically.[1]

Delivery Dates

Cash-Settled Butter futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November, & December.[1]

The following is a table with cash-settled butter futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction. Please note, the below lists the proper symbols as given by the exchange, for Wikinvest Charting purposes, the symbol FS should be used in place of CB for Cash-Settled Butter.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2009CBF9CB/F9-CM
February, 2009CBG9CB/G9-CM
March, 2009CBH9CB/H9-CM
April, 2009CBJ9CB/J9-CM
May, 2009CBK9CB/K9-CM
June, 2009CBM9CB/M9-CM
July, 2009CBN9CB/N9-CM
August, 2009CBQ9CB/Q9-CM
September, 2009CBU9CB/U9-CM
October, 2009CBV9CB/V9-CM
November, 2009CBX9CB/X9-CM
December, 2009CBZ9CB/Z9-CM

Contract Specifications

Contract Size

One Cash-Settled Butter futures contract on the Chicago Mercantile Exchange is 20,000 pounds.[1]

Daily Price Limit

$0.05 per pound above or below the previous day's settlement price, with multiple expansions. No limits in the last 5 days of trading.[1]

Trading Hours

Cash-Settled Butter futures contracts trade on the CME Globex electronic trading platform from 9:05 am on Monday through to 1:55 pm on Friday with daily trading halts everyday from 4:00 pm to 5:00 pm, US Central Time.[1]

Last Trading Day

Trading of Cash-Settled Butter futures contracts on the Chicago Mercantile Exchange ends 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.).[1]

Deliverable Grades

Deliverable Cash-Settled Butter grades for futures contracts on the Chicago Mercantile Exchange are: Grade AA Butter.[1]

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 The Chicago Mercantile Exchange's contract specification for Cash-Settled Butter futures
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