This week, the CME Group Inc outlined how it will determine final settlement prices for its October 2013 lean hog futures and options next week if the U.S. government shutdown persists.

Final settlements for the contracts normally are based on an index that the CME calculates from price data supplied by the U.S. Department of Agriculture. Because of the government shutdown, the CME Group last week said it would suspend calculation and distribution of its indexes for lean hogs as well as feeder cattle.

The October hogs contract will expire from trading on October 14, with its final settlement price scheduled for Oct. 16.

If USDA's price data from Oct. 11 and 14 is available by Oct. 15, the exchange said it would use the data to determine the final settlement price for Oct. 2013 contracts.

If the government data is not available by Oct. 15, CME said it would calculate final settlements based on the volume weighted average price of the October lean hogs futures contract for the two-day period of Oct. 11 and 14.

The price would incorporate activity from both the electronic Globex platform and the open-outcry pit during "regular" trading hours, from 9:05 a.m. to 1 p.m. CDT  on Oct. 11, and 9:05 a.m. to 12:00 noon on Oct. 14.

"The alternate final settlement price will be applied to any open positions in October 2013 futures and options on the normally scheduled date of October 16," the exchange said in a notice.

(Reporting by Julie Ingwersen; Editing by Lisa Shumaker)