LMFE TO CONCENTRATE ON CASH SETTLED CONTRACTS The London Meat Futures Exchange, LMFE, will cease trading in its deliverable pigmeat contract from April 3, the LMFE said. The move will enable the exchange to concentrate on the cash settled contracts introduced last year. "This allows the exchange and its members to concentrate our marketing on the pig and live cattle contracts," LMFE official Peter Freeman said. "These two have already shown their effectiveness for hedging, and the trade in both contracts is increasing," he added. "Using the futures market allows better planning and forward price fixing that our industry needs," chairman Pat Elmer said. Some 131 pig contracts were settled against the Meat and Livestock Commission's Average All Pigs Price in February, which represents hedging for over 13,000 pigs, more than twice the number cash-settled in January, the LMFE said. Cash settlement on the new cattle and pig contracts was introduced last June in the expectation that the appeal of the futures market to farmers, abattoirs and users of meat would increase because of the absence of a delivery requirement.