Chicago exchange drops frozen pork belly contracts

AP News
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Posted: Jul 15, 2011 6:32 PM
Chicago exchange drops frozen pork belly contracts

The Chicago Mercantile Exchange has traded its last contract for frozen pork bellies _ the part of the pig that bacon comes from.

The exchange began trading in frozen pork bellies in 1961. Trading peaked at more than 2.8 million contracts in 1982. The contract was used to lock in prices for pork in storage.

But traders don't use the contract anymore. It hasn't traded at all since January. Only 185 contracts changed hands going back to July 2010.