via a special arrangement with Informa Economics, Inc.
Report release time was set in fall 2010
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Friday’s release of the Quarterly Hogs & Pigs report is scheduled for 1 pm ET while futures markets will observe normal trading hours that day.
According to the Chicago Mercantile Exchange (CME) schedule published for the holiday, lean hog futures will be on regular trading hours Friday which means open-outcry trading ends at 1 pm CT while electronic trading continues until 1:55 pm CT.
What’s up? According to contacts, the process of setting the release of reports from the National Ag Statistics Service (NASS) for 2011 was completed in August 2010 since some of the data released by NASS – such as the Hogs & Pigs report – are deemed to be primary economic indicators. At that point, contacts advise there were indications that the markets could be closing early on Dec. 23 ahead of the Christmas holiday. The holiday schedule released Dec. 14 by the CME indicated that some markets (primarily precious metals and energies) would be closing early on Dec. 23, but the ag markets will observe normal trading hours.
Looking ahead, contacts advise the Hogs & Pigs release dates and times in 2012 will all be in Fridays and will be at 2 pm CT.
Comments: While some have expressed surprise at the situation, contacts point out that cotton futures currently have trading hours that result in that market being open when USDA’s monthly Crop Production and Supply/Demand reports are released.
NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws. |
