Merc to Resume Trading in Chickens: The...
From Times Staff and Wire Reports
Merc to Resume Trading in Chickens: The Chicago Mercantile Exchange plans to resume trading broiler futures on Feb. 7 for the first time since 1982. Chicken futures were traded at the exchange from 1962 to 1963 and broilers from 1979 to 1982, but the contracts were based on physical delivery of the commodity. The new contract will be cash-settled, based on the Agriculture Department’s 12-city composite weighted average. The cash settlement is expected to eliminate problems inherent in making or taking delivery of the commodity.
