The operator of the Chicago livestock futures and options exchanges said it would shorten the trading day effective Feb. 29 to the period when trading volume is heaviest and the markets have their greatest liquidity. The new trading day will run from 8:30 a.m. CT to a few minutes after 1 p.m. CT Monday through Friday. That period accounted for 87 percent trading of futures and options for live cattle, feeder cattle and lean hogs during 2015, said CME Group, which describes itself as the world’s leading and most diverse derivatives market. It said the change was “based on customer requests.”
The change, which needs approval by the CFTC, “comes after CME’s Executive Chairman Terry Duffy late last month addressed attendees at NCBA’s national convention in California regarding concerns about live cattle market volatility,” said Reuters.