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Merc's 'Pork Belly' Trading Pit Closing
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The once-raucous pork belly pit at the Chicago Mercantile Exchange will soon be history.
The storied open outcry pit — where orders are shouted out and contracts bought and sold with a series of complex hand signals — won't re-open when the Merc merges its trading floors and other operations with the Chicago Board of Trade next spring.
The pork belly pit is quiet today compared with its heyday in the 1980s, as more and more trading is done electronically.
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