CME to List Dry Whey Futures
February 22 2007 - 11:00AM
PR Newswire (US)
CHICAGO, Feb. 22 /PRNewswire-FirstCall/ -- CME, the world's largest
and most diverse financial exchange, announced today that Dry Whey
futures will be listed exclusively on CME Globex(R) scheduled to
begin trading March 19. Whey is the liquid remaining after milk has
been curdled and strained and is a by-product of the manufacturing
of cheese. Whey that is dried has traditionally been used in a
variety of foods such as crackers, breads, cereal, commercial
pastries and animal feed. In recent years, dry whey, which is high
in protein and low in fat, has been used in the increasingly
popular energy and power bars as well as protein drinks and
powders. "With the growing consumption of energy drinks and power
bars, dry whey is increasingly in demand thereby creating more
frequent imbalances between supply and demand," said John
Harangody, Director of CME Commodity Products. "As a result, dry
whey has become a volatile commodity. CME can provide buyers and
sellers of dry whey future price protection, hedging opportunities
as well as a mechanism for price discovery." The CME Dry Whey
contract size is 44,000 pounds with a tick value of $11. The
cash-settled contract is pegged to the USDA monthly weighted
average price in the U.S. for dry whey as first released. Trading
hours are from 9:40 a.m. to 1:10 p.m. daily on CME Globex. For more
information on the CME Dry Whey contract, please go to
http://www.cme.com/whey . CME ( http://www.cme.com/ ) is the
world's largest and most diverse financial exchange. As an
international marketplace, CME brings together buyers and sellers
on the CME Globex(R) electronic trading platform and on its trading
floors. CME offers futures and options on futures in these product
areas: interest rates, stock indexes, foreign exchange,
agricultural commodities, energy, and alternative investment
products such as weather, real estate and economic derivatives. CME
is a wholly-owned subsidiary of Chicago Mercantile Exchange
Holdings Inc. (NYSE:CMENASDAQ:CME), which is part of the Russell
1000(R) Index and the S&P 500(R) Index. Statements in this news
release that are not historical facts are forward- looking
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site at http://www.cme.com/ . CME-G DATASOURCE: CME CONTACT: Media
Contacts, Allan Schoenberg, +1-312-930-8189, or Mary Haffenberg,
+1-312-930-3435, , or Investor Contact, John Peschier,
+1-312-930-8491, all of CME Web site: http://www.cme.com/
http://www.cme.com/mediaroom http://www.cme.com/whey
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