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Live Hog Futures Contract of Dalian Commodity Exchange ("DCE")

Product

Live Hog

Trading Unit

16 MT/Lot

Price Quote Unit

CNY/MT

Minimum Tick Size

5 CNY/MT

Daily Price Limit Range

4% of last settlement price

Contract Months

Jan, Mar, May, Jul, Sep, Nov

Trading Hours

9:00 - 11:30 a.m., 1:30 - 3:00 p.m., Beijing Time, Monday to Friday, and other trading hours announced by DCE

Last Trading Day

The last but three trading day of the contract month

Last Delivery Day

The 3rd trading day after the last trading day

Deliverable Grades

Live Hog Delivery Quality Standard of DCE

(F/DCE LH001-2021)

Delivery Point

The delivery warehouses and FOT delivery sites of live hog designated by DCE

Minimum Trading Margin

5% of the contract value

Delivery Form

Physical delivery

Ticker Symbol

LH

Listed Exchange

DCE

Note: DCE may adjust the daily price limit ranges and the trading margins of each contract according to market conditions. For details of current trading parameters of each contract, please see below website:

www.dce.com.cn/DCE/TradingClearing/Business%20Parameters/Trading%20Parameters/index.html

Disclaimer: This English translation may be used for reference only. In case there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.

Live Hog Delivery Quality Standard of Dalian Commodity Exchange ("DCE")

1. Main content and applicable scope

1.1 The standard herein (the "Standard") stipulates the quality requirements, and inspection methods for live hogs delivered at DCE.

1.2 The Standard applies to standard deliverable products and substitutes under the live hog futures contract of DCE.

2. Cited rules and standards

The provisions of the following documents are incorporated as the provisions of the Standard by citation. For those cited documents noted with dates, all of their following amendments (excluding corrections) and revised versions shall not be applied to the Standard; for those without dates, their latest versions shall be applied to the Standard.

GB/T 32759-2016 Quality evaluation on live lean type pigs

3. Terms and definitions

3.1 Lean hog: subject to the requirements specified in GB/T 32759-2016

3.2 Average weight: the average body weight of live hogs in the same batch.

3.3 Individual weight: the weight of a single live hog.

4. Quality Requirements

4.1 Quality requirements for standard products of the live hog futures

Item

Quality Standards

Appearance

form and appearance of lean hogs, natural walking, no hernia, absence of pustules or lump on surface of body and abnormal wheezing.

Average Weight /(Kg)

[100,120]

Individual Weight /(Kg)

[90,140]

4.2 Premiums/Discounts of the live hog futures qualities

Item

Scope of Tolerance

Premiums/Discounts

Appearance

Unnatural walking or having hernias

Discount of 100 CNY/hog

Presence of pustules or lump on surface of body

Discount of 50 CNY/hog

Average Weight/(Kg)

(120,130]

Discount of 0 CNY/ton

(130,140]

Discount of 600 CNY /ton

>140

Discount of 1000 CNY /ton

Individual Weight/(Kg)

(140,150]

Discount of 0 CNY / hog

>150

Discount of 200 CNY /hog

<90

Discount of 1000 CNY /hog

4.3 Health and quarantine

Health and quarantine shall be subject to the requirements specified in the Animal Epidemic Prevention Law of the People's Republic of China, the Quarantine Regulations for Live Hog Producing Area and the relevant standards for quarantine of live hogs.

5. Inspection methods

5.1 Appearance inspection: assessing the appearance of live hogs by visual observation.

5.2 Average weight: the average weight of the live hogs in the same inspection batch shall be calculated through dividing the actual total weight after weighing with a weighbridge or other weighing equipment recognized by DCE by the actual number of live hogs.

5.3 Individual weight: the individual weight shall be measured by a weighbridge or other weighing equipment recognized by DCE.

6. Additional note

The Standard shall be subject to the interpretation of DCE.

Email:inquiries@dce.com.cn Tel:86-411-84808226
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