CME Group Lean Hogs are a cash-settled futures contract. The lean hog contract replaced the physically delivered live hog contract. Futures and futures options on lean hogs are based on a 40,000-pound contract, and are offered for trading both on through open outcry at CME Group and on the CME Globex electronic trading platform.
The contract months in the lean hog futures are February, April, May, June, July, August, October and December. The commodity symbol for the floor-traded hogs is LH, and for Globex-traded hogs, HE.
On December 4, 2006, CME launched options on live cattle and lean hogs futures traded on the CME Globex electronic trading platform.
|Lean Hog futures|
|Contract Size||40,000 pounds (~18 metric tons)|
|Pricing Unit||$0.01 per hundred pounds = $4.00|
|Tick Value||$0.00025/lb or $10.00/contract|
|Contract Months||Monthly contracts listed as follows:
|Last Trading Day||10th business day of the contract month, 12:00 p.m.|
|Trading Hours||Monday - Friday: 8:30 a.m. - 1:05 p.m. CT||Mon-Thurs 5:00 p.m.-4:00 p.m.; Shutdown period from 4:00 p.m.-5:00 p.m.: Sun & Hol 5:00 p.m.-4:00 p.m. Chicago time. Last Trading Day - 12:00 p.m.|
|Price Limits||$0.03/lb, $1200||$0.03/lb, $1200|
|Lean Hog options|
|Trade Unit||One futures contract|
|Point Value||1 point = $0.0001 per hundred pounds = $4.00|
|Tick Value||Full Tick = $.00025 per pound (=$10 per contract);
Half Tick = $.000125 per pound (=$5 per contract)
|Option Months||Eight months of Feb, Apr, May, Jun, Jul, Aug, Oct, Dec and Flex Options|
|Strike Prices||All listed intervals|
|Trading Hours||Monday - Friday: 8:30 a.m. - 1:02 p.m. CT.||Monday - Friday: 8:30 a.m. - 1:05 p.m. CT|
|Ticker Symbol||Put: PH Call: CH||HE|
Futures Contracts Volume
In 2014, the volume of CME Group Lean Hogs futures traded ranked twentieth among all agricultural futures and options contracts according to the FIA.
|Year||Total Annual Volume||Percent Change|