Milk Class III
In commodities market terminology, Milk Class III refers to all Grade A and Grade B milk which is used in the manufacture of products other than those for which Milk Class I (fluid milk sold as such) and Milk Class II (cottage cheese and yogurt) are used. Milk Class III is generally employed in the production of cheese.
Milk Class III futures contracts are traded by open outcry from 9:05 AM to 1:10 PM Monday thru Friday on the Chicago Mercantile Exchange and on the CME electronic Globex trading platform. Contracts are for 200,000 pounds or 90 metric tons of Class III Milk. Prices are quoted in U.S. Dollars and the minimum fluctuation is $20.00 per contract. The Milk Class III futures symbol is DA.