NOVEMBER AND DECEMBER LIVESTOCK GROSS MARGIN SALES CLOSING DATES
Chandra Mason, 816-926-3875
WASHINGTON, Nov 8, 2010 - The Livestock Gross Margin (LGM) Basic Provisions state that the sales period will be the last business Friday of the month. In addition, section 2(d) of the Cattle and Swine provisions and section 3(h) of the Dairy provisions state that LGM will not be available if the required data for establishing the expected gross margins for each month of the insurance period are not available because futures did not trade.
Due to the Thanksgiving holiday, the last business Friday of the month for November LGM sales will be Nov 19, 2010. While Nov 26, 2010, is considered a business day for some commodity markets, others may be closed that day, not allowing the determination of the November expected gross margins.
In December, since Christmas Eve and New Year’s Eve fall on the last two Fridays of the month, the December LGM sales closing date will be Dec 17, 2010.