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