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Weather hedging. (Marketplace).(Brief Article)(Illustration)(Statistical Data Included)
Weather Hedging: Chicago Mercantile Exchange Weather Futures Prices
Each Degree Day valued at $100 per contract
Cooling Degree Days
Location June July Aug Sep
Atlanta, GA 342 480 440 255
Chicago, IL 214 320 230 90
Cincinnati, OH 244 390 290 115
Dallas, TX 452 625 635 395
Des Moines, IA 283 395 305 110
Las Vegas, NV 693 850 805 515
New York, NY 249 425 365 165
Philadelphia, PA 271 440 365 165
Portland, OR 66 150 155 75
Tucson, AZ 689 720 660 530
The above values are CME settlement prices as of July 1, 2002. For
information about CME weather futures, visit www.cme.com. or contact
Felix Carabello at 312-634-1585 fcarabel@cme.com.
Definition of Weather Futures: The Chicago Mercantile Exchange lists
futures and options contracts based on the cumulative monthly
heating/cooling degree days in each of ten U.S. cities. The point value
of each weather contract is $100 per degree day. In order for energy
producers and consumers to hedge the volumetric uncertainty associated
with ...
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