The Chicago Mercantile Exchange said Thursday it would add May to the contract months traded in lean hog futures effective Monday, June 4, according to a Reuters report.

Starting with the new May 2002 contract, the exchange will also change the way it calculates the final settlement for the cash-settled lean hog futures.

The CME said its method of calculating final settlement will change because the U.S. Agriculture Department has said it plans to eliminate the price reports currently used for the calculations after next April

Beginning with the May 2002 contract, final settlement must use data to be reported by the USDA in the National Daily Direct Prior Day Hog Report-Slaughtered Swine, which the USDA said it will begin issuing on June 18 this year.

USDA said it expects the pricing in the new report to be equivalent to that in the current slaughter report.