Cash-Settled Butter futures provide a way to:

• Engage in price discovery for butter utilizing a cash-settled contract
• Effectively manage the price risk that merchandisers, producers, processors and others have related to the purchase or sale of butter
• Evaluate or reflect on both the current and future supply and demand situation for butter 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 butter
• Manage price risk across a series of contracts in a single transaction using packs functionality