Products & Trading » Commodities » Class III Milk
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Class III Milk

Product Overview

Class III Milk futures provide a way to:

  • Engage in price discovery for Class III Milk, which is used mainly in the manufacturing of cheddar cheese
  • Effectively manage the price risk that merchandisers, producers, processors and others have related to the purchase or sale of Class III Milk
  • Evaluate or reflect on both the current and future supply and demand situation for Class III Milk and related dairy products
  • Take advantage of arbitrage and spread opportunities with other dairy products
  • Trade to hedge or speculate based on expectations of directional price, spread movement or volatility in Class III Milk
  • Manage price risk across a series of contracts in a single transaction using packs functionality
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General News & Announcements for Agricultural Commodity
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Education Series: Using Options to Hedge Commodity Price Risk

Webinars begin Thursday, August 7, 2008. In-person days are August 14 and 15, 2008.


An Introduction to Grain Calendar and Basis Swaps

Learn how cleared OTC agricultural swaps can be of use in today’s volatile commodity markets


Price Limit Update

Get details on price limit increases for CME Group Grain and Oilseed products.

Market Regulation Advisory


CME Product Market Data
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Contract Specification View
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Trade Unit 200,000 lbs. of Class III milk
Settle Method Cash Settled
Point Size 1 point = $.01 per hundred weight = $20 per contract
Strike Price Interval
Strike
Limits/Price Banding There shall be no trading at a price more than $0.75 per hundredweight above or below the previous day's settlement price.
Tick Size (Minimum Fluctuation)
Regular0.01=$20.00
Calendar Spread0.01=$20.00
Trading Hours Mon-Thurs 9:05 a.m.-4:00 p.m. Shutdown period from 4:00 p.m.-5:00 p.m. ReOpen 5:00 p.m.-4:00 p.m. Friday, Close at 1:30 p.m. LTD(12:10 p.m. If the LTD is on a day that the market closes early, then the time is 11:10 a.m.)
Listed
Product Codes Clearing=DA Ticker=DA Globex=DC
Minimum Block Size
Product Calendar 24 months.
View current product listings
Trade Unit 200,000 lbs. of Class III milk
Settle Method Cash Settled
Point (Tick) Size 1 point = $.01 per hundred weight = $20 per contract
Strike Price Interval
Strike
Limits/Price Banding There shall be no trading at a price more than $0.75 per hundredweight above or below the previous day's settlement price.
Minimum Fluctuation
Regular0.01=$20.00
Calendar Spread0.01=$20.00
Trading Hours 9:05 a.m.-1:10 p.m. LTD (12:10 p.m. If the LTD is on a day that the market closes early, then the time is 11:10 a.m.)
Listed
Product Codes Clearing=DA Ticker=DA Globex=DC
Minimum Block Size
Product Calendar 24 months.
View current product listings
General News & Announcements for Agricultural Commodity
RSS

Education Series: Using Options to Hedge Commodity Price Risk

Webinars begin Thursday, August 7, 2008. In-person days are August 14 and 15, 2008.


An Introduction to Grain Calendar and Basis Swaps

Learn how cleared OTC agricultural swaps can be of use in today’s volatile commodity markets


Price Limit Update

Get details on price limit increases for CME Group Grain and Oilseed products.

Market Regulation Advisory


Contracts Currently Eligible to Trade and Recently Expired Contracts
Contract Month Product Code First Trade Date Last Trade Date Settlement Date
AUG08 DAQ08 09/01/2006 Add to Outlook 09/04/2008 09/05/2008
SEP08 DAU08 09/29/2006 Add to Outlook 10/02/2008 10/03/2008
OCT08 DAV08 11/03/2006 Add to Outlook 10/30/2008 10/31/2008
NOV08 DAX08 12/01/2006 Add to Outlook 12/04/2008 12/05/2008
DEC08 DAZ08 01/05/2007 Add to Outlook 12/31/2008 01/02/2009
JAN09 DAF09 02/02/2007 Add to Outlook 01/29/2009 01/30/2009
FEB09 DAG09 03/02/2007 Add to Outlook 02/26/2009 02/27/2009
MAR09 DAH09 03/30/2007 Add to Outlook 04/02/2009 04/03/2009
APR09 DAJ09 05/04/2007 Add to Outlook 04/30/2009 05/01/2009
MAY09 DAK09 06/01/2007 Add to Outlook 06/04/2009 06/05/2009
JUN09 DAM09 06/29/2007 Add to Outlook 07/02/2009 07/06/2009
JUL09 DAN09 08/03/2007 Add to Outlook 07/30/2009 07/31/2009
AUG09 DAQ09 08/31/2007 Add to Outlook 09/03/2009 09/04/2009
SEP09 DAU09 10/05/2007 Add to Outlook 10/01/2009 10/02/2009
OCT09 DAV09 11/02/2007 Add to Outlook 10/29/2009 10/30/2009
NOV09 DAX09 11/30/2007 Add to Outlook 12/03/2009 12/04/2009
DEC09 DAZ09 01/04/2008 Add to Outlook 12/31/2009 01/04/2010
JAN10 DAF10 02/01/2008 Add to Outlook 02/04/2010 02/05/2010
FEB10 DAG10 02/29/2008 Add to Outlook 03/04/2010 03/05/2010
MAR10 DAH10 04/04/2008 Add to Outlook 04/01/2010 04/05/2010
APR10 DAJ10 05/02/2008 Add to Outlook 04/29/2010 04/30/2010
MAY10 DAK10 05/30/2008 Add to Outlook 06/03/2010 06/04/2010
JUN10 DAM10 07/03/2008 Add to Outlook 07/01/2010 07/02/2010
JUL10 DAN10 08/01/2008 Add to Outlook 07/29/2010 07/30/2010
Contracts Not Yet Eligible to Trade
Contract Month Product Code First Trade Date Last Trade Date> Settlement Date
AUG10 DAQ10 09/05/2008 09/02/2010 09/03/2010
General News & Announcements for Agricultural Commodity
RSS

Education Series: Using Options to Hedge Commodity Price Risk

Webinars begin Thursday, August 7, 2008. In-person days are August 14 and 15, 2008.


An Introduction to Grain Calendar and Basis Swaps

Learn how cleared OTC agricultural swaps can be of use in today’s volatile commodity markets


Price Limit Update

Get details on price limit increases for CME Group Grain and Oilseed products.

Market Regulation Advisory