Cotton Futures
Trading Unit - 50,000 lbs. net weight (approximately 100
bales).
Trading
Hours - 1:05 pm to 3:00pm NY time.
Price Quotation - Cents and hundreths of cent per
pound
Trading
Months - Current month plus one or more of the next twenty-three succeeding months. Active trading months: March,
May, July, October, December.
Ticker Symbol - CT
Minimum Fluctuation - 1/100 of a cent (one "point") per
pound below 95 cents per pound. 5/100 of a cent (or five "points") per pound at prices of 95 cents per pound on
higher. Spreads may always trade and be quoted in one point increments, regardless of price levels.
Last Trading Day - Seventeen
business days from end of spot month.
First Notice Day - Five business days from end of preceding month.
Daily Price Limit - 3
cents above or below previous day's settlement price. However, if any contract months settles at or above $1.10 per pound,
all contract months will trade with 4 cent price limits. Should no month settle at or above $1.10 per pound, price limits
stay (or revert) to 3 cents per pound. Spot month - no limit on or after first notice day.
| Position
Limits |
|---|
| Delivery Month | 300 contracts |
| Any other month | 2,500 contracts |
| All
months combined | 3,500 contracts |
Futures and options have a combined limit in futures
equivalents.
| Basis Grade |
|---|
| Quality: | Strict
Low Middling |
| Staple Length: | 1 2/32nd inch |
Point Value - $5.00
Delivery Points - Galveston,
TX; Houston, TX; New Orleans, LA; Memphis, TN; Greenville/Spartanburg, S.C.
