Class IV Milk futures provide a way to:

• Engage in price discovery for Class IV Milk, which is used in butter production and dried milk products
• Effectively manage the price risk that merchandisers, producers, processors and others have related to the purchase or sale of Class IV Milk
• Evaluate or reflect on both the current and future supply and demand situation for Class IV 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 IV Milk
• Manage price risk across a series of contracts in a single transaction using packs functionality