Milk Class IV
In commodity market terminology, Milk Class IV refers to all Grade A and Grade B milk which is used in the manufacture of products other than that prescribed for Milk Classes I, II and III. Specifically, Milk Class IV is used to produce butter and non-fat dry milk.
Milk Class IV 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 IV Milk. Prices are quoted in U.S. Dollars and the minimum fluctuation is $20.00 per contract. The Milk Class IV futures symbol is DK.