CME to list delayed 2014 live cattle futures contracts on Sept 3
By Theopolis Waters
CHICAGO, Aug 21 (Reuters) - The Chicago Mercantile Exchange will list October 2014, December 2014 and February 2015 live cattle futures and options contracts for trading beginning Sept. 3, the CME said in a statement on Wednesday.
The exchange notified customers in June that the October and December 2014 contracts would be delayed to allow for the review of pending changes, the CME managing director of Commodity Research and Product Development, David Lehman, told Reuters on Wednesday.
The contract months will now be listed under current contract terms, including the same changes in maximum weight, scheduling and premiums/discounts, that became effective with the August 2014 contract, according to the exchange.
"We haven't completed that review and we know the industry is looking for these contract months to use for price discovery and risk management," said Lehman. "We wanted to go ahead and list those and then we'll finish our review as time permits as we work with the industry."
The listings were in response requests from CME customers, Lehman said, adding it was difficult to determine how much interest those trading months would generate, but they might build slowly over time.
"These are behind several months from their normal listing schedule, so we know the market in the past had been used to having these contracts by now," Lehman added. (Editing by Andre Grenon)
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