No more frozen pork belly trading at Chicago Merc

July 15, 2011 3:43:00 PM PDT
The Chicago Mercantile Exchange shut down its iconic pork belly futures market Friday.

The contract for a slab of frozen meat started trading in 1961.

It was the oldest existing CME livestock futures contract.

Trading declined sharply in recent years as the pork industry became integrated with meat processors using fresh pork bellies rather than frozen ones.