CME Group Ethanol
Contract size is 29,000 gallons (one railcar). Deliverable grades Denatured Fuel Ethanol ASTM D4806. Contract months are all calendar months. Daily price limits are $0.30 per gallon, no limit in the spot month. Final settlement procedure is by physical delivery. Refer to the following for full specifications:http://www.cmegroup.com/trading/energy/ethanol/cbot-ethanol_contract_specifications.html
CME Group Soybean Oil
Contract size is 60,000 pounds, about 27 metric tons. Prices are per pound. Contract months are January, March, May, July, August, September, October, and December. Daily price limit is 2.5 cents per pound expandable to 3.5 cents per pound and then to 5.5 cents per pound when the market closes at limit bid or limit offer. There shall be no price limits on the current month contract on or after the second business day preceding the first day of the delivery month. Settlement is physical delivery. Refer to the following link for full specifications:
CME Settlement Price
Livestock products are settled to the midpoint of the trades or the last valid price in the pit (including trades, higher bids, lower offers, or nominal close based on prior settle if no activity) between 12:59:30-13:00:00 CT.
Calves
Comment used to differentiate between calves and yearlings weighing over 600 lbs. even when similar weights and grades are selling at or near the same price level. The weight division between calves and yearlings for market reporting purposes is 600 pounds. No comment is required on calves weighing less than 600 pounds, but all calves weighing more than 600 pounds must be identified as calves.
Canadian Origin
Used to identify cattle of Canadian origin on market reports.
Carcass Characteristics
Range and average carcass weight in pounds, the quality and yield grade (if applicable), and the average dressing percentage.[1]
Cattle Delivered
Cattle that have been delivered to the packing plant for slaughter.[1]
Choice White Grease
A specific grade of mostly pork fat defined by hardness, color, fatty acid content, moisture, insolubles, and free fatty acids.
Commodity Credit Corporation (CCC)
An agency of the U.S. Department of Agriculture. This agency is authorized to assist agricultural producers through loans, purchases, and other operations, and makes available materials and facilities required in the production and marketing of agricultural commodities.
Confidentiality Guideline
In order for Livestock Mandatory reports to be published they must meet the 3/70/20 confidentiality guideline which states that in order for a report (regional or national) to be published, at least 3 companies have to submit data 50 percent of the time or more over a 60-day period. No one company can account for 70 percent or more of the cumulative market volume for any report over a 60-day period. In cases where only one company submits data for individual reports, the same company can not be the sole reporting entity more than 20 percent of the time during a 60
