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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. |
Random Length Lumber futures are traded on the Chicago Mercantile Exchange under ticker symbol LB in dollars per 1,000 board feet. For electronic trading sessions, the symbol LB is used.[1]
The chart at left shows Front Month Random Length Lumber futures prices on the Chicago Mercantile Exchange (CME) in dollars per 1,000 board feet.
Delivery Dates
Random Length Lumber futures are delivered every year in January, March, May, July, September, & November.[1]
The following is a table with Random Length Lumber 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 | LBF9 | LB/F9-CM |
| March, 2009 | LBH9 | LB/H9-CM |
| May, 2009 | LBK9 | LB/K9-CM |
| July, 2009 | LBN9 | LB/N9-CM |
| September, 2009 | LBU9 | LB/U9-CM |
| November, 2009 | LBX9 | LB/X9-CM |
Contract Specifications
Contract Size
One Random Length Lumber futures contract on the Chicago Mercantile Exchange is 110,000 board feet.[1]
Daily Price Limit
$10 per mbf above or below previous day's settlement price; expandable to $15 per mbf.[1]
Last Trading Day
Trading of Random Length Lumber futures contracts on the Chicago Mercantile Exchange ends on the business day immediately preceding the 16th calendar day of the contract month, 12:05 p.m.[1]
Deliverable Grades
Deliverable Random Length Lumber grades for futures contracts on the Chicago Mercantile Exchange are: 2-inch by 4-inch lumber, 8-20 feet long.[1]
Margin
- Initial Margin: $1816.00[1]
- Maintenance Margin: $1210.00[1]
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