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I am very pleased to be in San Francisco. This is such a delightful city that I sometimes wish I were President of a San Francisco Commodity Exchange. But that would not be fair to Chicago, a truly great city, or to the Chicago Mercantile Exchange, an outstanding business and financial institution. I hope all of you will become exposed to them both. You will like what you see. The times they are a changin! And changin fast, everywhere. I head an Exchange that is several decades old and steeped in agricultural tradition. We' were once called the Butter and Egg Board and, along with butter and eggs, we have had futures markets in cheese, shrimp, and turkeys. You do not find any of these markets trading any more, but we do have very successful contracts in fat cattle, feeder cattle, hogs, broiler chickens, pork bellies, and lumber.