In commodity market terminology, Deliverable Nonfat generally refers to Deliverable Nonfat Dry Milk. This dairy product is traded as a futures contract on the GLOBEX and ClearPort electronic trading platforms of the Chicago Mercantile Exchange.
Deliverable Nonfat Dry Milk futures contracts are traded in all months and are for 44,000 pounds (20 Metric tons) of Grade A and Extra Grade Nonfat Dry Milk. The contracts are for physical delivery and the last trading day is on the business day immediately preceding the last seven business days of the contract month. The futures are traded under the symbol GNF and quoted in U.S. Dollars and cents with the minimum fluctuation of $11.00 a contract.