Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Ho Chi Minh City, VietnamHeadline | physical_fob | — | USD/MT | 3200–3800 | Dec 2024 | — |
| Mississippi/Alabama, USA | physical_fob | — | USD/MT | 2800–3400 | Dec 2024 | — |
| Guangdong, China | physical_fob | — | USD/MT | 2400–2900 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical catfish trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Ho Chi Minh City, Vietnam | — | |
| Mississippi/Alabama, USA | — | |
| Guangdong, China | — |
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