Proposed Amendments to the Standards for Deliverable Lumber on the Chicago Mercantile Exchange Random Lengths Lumber Futures Contract, Submitted Under Fast Track Review Procedures

Résumé

The Chicago Mercantile Exchange (CME or Exchange) has proposed amendments to the random lengths lumber futures contract to change the standards for deliverable lumber. Specifically, the Exchange proposes to disallow delivery of lumber produced from Alpine fir, to provide that lumber produced from hemlock-fir is not deliverable if the lumber is manufactured in Canada or in specified areas of Washington, Oregon, and California; to provide that lumber produced from spruce-pine fir is not deliverable if it is manufactured in those specified areas in Washington, Oregon, and California, and to clarify that lumber produced from species under the Engelmann Spruce/Lodgepole Pine designation is deliverable as a group. The proposals were submitted under the Commission's 45-day fast track procedures. The Acting Director of the Division of Economic Analysis (Division) of the Commission, acting pursuant to the authority delegated by Commission Regulation 140.96, has determined that the proposals are of major economic significance, and that publication for comment is in the public interest, will assist the Commission in considering the views of interested persons, and is consistent with the purpo