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 ADPI's 2009 Annual Conference to Address New Deliverable Nonfat Dry Milk Futures and Options Contracts  

As announced earlier this week, the CME Group, the world’s largest and most diverse derivatives exchange, will initiate trading in a new deliverable contract for nonfat dry milk futures and options on April 20th. 

In announcing the new contract, Mr. John Harangody, CME Group Director of Commodity Products and Services stated, “We are launching a second nonfat milk contract that in most respects mirrors our existing cash-settled contract because our customers have requested a physically deliverable instrument that would better suit their hedging needs.” 

Mr. Harangody will be speaking at the ADPI/ABI Annual Conference in Chicago, Illinois on April 28th, a week after the debut of the new deliverable NDM contracts. He will explain the benefits of the new deliverable product and will generally discuss certain risk management tools and hedging strategies for the dairy industry. 

"We are very pleased that Mr. Harangody is joining us at ADPI's 2009 Conference and will address our members on such a timely topic," said Dale Kleber, the Chief Executive Officer of ADPI.   "Managing the risks of volatile dairy prices and costs are a key concern to our members, as well as their customers." 

The new deliverable nonfat dry milk contract differs from the existing cash-settled futures because at contract expiration settlement is made by the physical delivery of 44,000 pounds of Grade A or Extra Grade nonfat dry milk per contract.  Mr. Harangody explained, “Having two nonfat milk listings will enable our customers to utilize more efficient risk-management strategies.”

Source: ADPI Press Release


Posted on Thursday, March 26, 2009 (Archive on Thursday, April 02, 2009)
Posted by bsutton@adpi.org  Contributed by bsutton@adpi.org
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