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CME takes bellies off the floor.

CME takes bellies off the floor: The Chicago Mercantile Exchange shut down its frozen pork belly futures market July 15, citing a long-term lack of interest in the contract as the reason.

Until it was dropped, the contract for a slab of frozen meat from which bacon is cut that started trading in 1961 was the oldest existing CME livestock futures contract.

Trading in pork belly futures had dropped to nearly zero in recent years after the meat industry became integrated and used fresh pork bellies instead of frozen ones to make bacon. Pork bellies had their heyday in the late 1960s and 1970s, when they were the CME's most popular agriculture contract
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Title Annotation:NEWS & COMMENT
Publication:The Food & Fiber Letter
Date:Jul 25, 2011
Words:113
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