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Non-fat Dry Milk Futures Contract Specs

Contract Unit 44,000 lbs. of Nonfat Dry Milk ( ˜20 metric tons)
Price Quotation Nonfat Dry Milk

Cents per pound
Trading Hours Sundays at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
Minimum Price Fluctuation $0.00025 per pound (= $11.00 per contract)
Product Code CME Globex: GNF
CME ClearPort: NF
Clearing: NF
Listed Contracts 24 Calendar Months
Settlement Method Financially Settled
Termination Of Trading Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Nonfat Dry Milk price for that contract month. (LTD 12:10 p.m.)
Settlement Procedures NonFat Dry Milk Settlement Procedures
Position Limits CME Position Limits
Exchange Rulebook CME 54
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing