In February 2006, the Chicago Merchantile Exchange successfully launched CME Class III Milk futures on the CME Globex electronic platform. Since that time approximately 20% of overall average daily volume in CME Class III Milk futures trading has been electronic.

On September 25, the CME Globex platform will expand its functionality to include packs for CME Class III Milk, according to a CME release. Packs are the simultaneous purchase or sale of the same number of positions placed in consecutive CME Class III Milk futures contract months, quoted on an average net change from the previous day’s settlement price. Class III Milk Packs will simplify order execution by allowing users to enter a single transaction to cover 3 to 16 consecutive contract months.