Livestock & Meat

Teaser Picture Agriculturals

The agricultural markets represent one of the largest sub-asset classes in exchange commodity trading. Our products enable clients to manage their price risk on these markets while avoiding counterparty risk.

Sascha Siegel, Head of Agricultural Commodities

Why trade Agricultural Derivatives on EEX?

  • Access to a broad range of commodity products
  • Hedging of price risks on the agricultural markets
  • Financial settlement based on reliable reference prices
  • Safe and reliable clearing and settlement processes via European Commodity Clearing (ECC)

Market price indices as the basis for prices on the livestock and meat market

The Hog Index constitutes the price basis for hog futures. It reflects the spot market price situation for hogs for slaughter in Central Europe (Germany, the Netherlands, Belgium and Austria). The calculation includes both recognised prices reported by Germany, the Netherlands, Belgium and Austria and public pricing by the Federal Office for Agriculture and Food (BLE) in the index in accordance with the quota outlined below:

In the calculation of the index for piglets, recognised pricings by the four most important piglet trading regions in Germany (Schwäbisch-Gmünd, Bavaria, North Rhine-Westphalia, Lower Saxony) are used.

Futures positions which are still open after the last day of trading are settled financially at the final settlement price. This corresponds to the respective market price index.

Financial settlement

Hog and Piglet Futures are settled financially upon maturity (Cash Settlement). In financial settlement, reference prices are used which represent the value of the products actually traded (spot price). In all futures contracts, market price indices are used which reflect the market price and increase the transparency of the market as a result.

Contract specifications*

 

Hog Futures

Piglet Futures

Product ID

FAHG

FAPG

Product ISIN

DE000A13RUR4

DE000A13RUQ6

Underlying

Hog-Index

Piglet-Index

Contract volume

8,000 kg

100 piglets

Denomination

EUR

EUR

Pricing and minimum price change   

Pricing in EUR je kg, minimum price change: EUR 0.001 per kg

Pricing in EUR per piglet, minimum price change: EUR 0.1 per piglet

Maturities

The maturities of the current and of the next twelve consecutive calendar months as well as the subsequent two maturity months from the March, June, September and December cycle.  

Trading hours

Continuous trading, 9:50 - 16:00 (CET); until 16:00 (CET) on the last day of trading

Last day of trading

The exchange day before the Thursday which follows the third Friday of the respective maturity month; in the maturity month of December, it is the exchange trading day before the Thursday which follows the second Friday of the month.

Settlement

Cash settlement, difference between the final settlement price and the settlement price of the previous exchange trading day

Final settlement price

Status of the respective decisive index on the last day of trading at 9:30 (CET)

*Please note that this document is exclusively intended for your information and is not legally binding, The legally binding contract specifications are available on the EEX website at Trading > Rules and regulation.