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Markets in for some changes, CME Group says
[/title][fusion_text]Wednesday, February 10th 2016
The markets for live and feeder cattle and lean hogs are in for some changes after industry representatives expressed concerns to CME Group officials about increasing market volatility. The CME Group announced the changes, including shorter trading hours and the formation of a working group to consider other modifications, in a release Wednesday morning. The changes in trading hours were said to be brought about by consumer requests. Trading on open outcry options will now last from 8:30 a.m.-1:02 p.m. Central Time and CME Globex futures and options will start at the same time and stay open until 1:05 p.m. According to the CME Group, the new hours reflect the “period of greatest liquidity” within the markets in question; during 2015, about 87 percent of trading happened in these hours. The Commodity Futures Trading Commission must approve the new trading hours, which the CME Group wants to have in place by the end of the month. The CME Group also announced intentions to form a working group with members of the National Cattlemen’s Beef Association “to discuss other possible enhancements to its cattle markets, including, but not limited to, circuit breakers and other measures to further heighten market quality.” CME Group also said it will conduct a public review with cattle customers on whether a discount is warranted at its delivery point for live cattle futures in Worthing, South Dakota. The review will take place this month and potential changes will be announced by the end of March.
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