Dairy Futures and Options Tutorial
Whey (Cash Settle) Futures Contract
- Contract Size: 44,000 pounds
- Product Code: DY
- Delivery Months: Every calendar month for 24 months
- Last Trading Day: TThe Exchange business day prior to the day the average monthly average NASS dry whey price is announced for the calculation of Classified Prices. This is on a Friday, no later than the 5th of the month following production.
- Minimum Fluctuations: $0.00025/lb ($11/contract)
- Daily Price Limits: There shall be no trading at a price more than $0.040 per pound above or below the previous day's settlement price, except that there shall be no daily price limits in the spot month during the last 5 trading days in the spot month.
- Settlement: Cash settlement on the day the monthly average whey prices used in Announced Classified prices report is published
- Options Contract?: No