• Home
• Listen to Ron
• Ag News
• Markets
• Calendar
• Auctions
• Weather
• Email Archives
• Agri-Innovations
• Beef Buzz
• RON Radio Affiliates
• Contact Us

advertisements
   
   
   
   

   

Agricultural News

Farewell to Pork Belly Futures

Mon, 18 Jul 2011 15:02:51 CDT

The CME Group announced this past Friday, July 15, in a report to traders that "because of a prolonged lack of trading volume and after significant discussion with industry participants, CME delisted Frozen Pork Bellies Futures and Options effective Monday, July 18, 2011." At one time, frozen pork bellies were the most traded contact on the Chicago Mercantile Exchange.

Trader Harvey Paffrenroth the Chicago Tribune that pork bellies were the "glamour market." The pork belly contract was introduced in 1961, when frozen bellies would be stored away for the winter, then thawed for summer's increased bacon demand. Click here for the full article seen in the Chicago Tribune.

Pork belly futures allowed producers to hedge against price fluctuations. Today, with an increase in year-round consumption, consolidation of the industry, and the use of fresh, not frozen bellies, the pork belly future has become obsolete.

Back in 1970s and 1980s, Pork Bellies was one of the marquee traded agricultural commodities- and it was the object of a lot of jokes as well. The Youtube below is from the movie, Trading Places, where Billy Valentine learns commodity trading from his mentors, the Mortimers.




   

 

WebReady^TM Powered by WireReady® NSI

 

Top Agricultural News

Oklahoma Youth Expo Sale of Champions Sale Order Available Here- Sale Set for 4 PM Friday  Fri, 17 Mar 2023 04:50:54 CDT

Rural Voters Dominated Vote to Defeat Recreational Marijuana March 7th  Fri, 10 Mar 2023 07:13:05 CST

Ron Hays Talks to Israeli Ag Tour Guide Colin Lotzof About the Miraclel of Ag in Israel  Wed, 22 Feb 2023 22:11:04 CST

OALP Members Experience First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:51:49 CST

OALP Members Get First Hand View of Cutting Edge Drip Irrigation Technology as Israel Travel Ends  Wed, 22 Feb 2023 10:50:10 CST

Oklahoma Ag Leadership Program Sees Fruit, Beef and Dairy Production North of the Sea of Galilee in Israel  Mon, 20 Feb 2023 21:56:02 CST

Oklahoma Ag Leadership Program Sees Diverse Farm Operations in Jordan River Valley of Israel  Sun, 19 Feb 2023 21:17:30 CST

Israeli Tour Guide Mark Kedem Talks About The Cultural Aspects of What Class XX of OALP is Experiencing   Sat, 18 Feb 2023 22:17:23 CST

More Headlines...