Nonfat Dry Milk Futures

New York Times  Jul 4  Comment 
Malt-O-Meal Company is voluntarily recalling oatmeal that contains instant nonfat dry milk that may be contaminated with salmonella.


Nonfat Dry Milk futures are traded on the Chicago Mercantile Exchange under ticker symbol NF in cents per pound. For electronic trading sessions, the symbol GNF is used.[1]

The chart at left shows front-month Nonfat Dry Milk prices on the Chicago Mercantile Exchange (CME) in cents per pound.

Delivery Dates

Nonfat Dry Milk futures are delivered every year in January, February, March, April, May, June, July, August, September, October, November, & December.[1]

The following is a table with Nonfat Dry Milk futures delivery dates and resultant tickers for 2009. For an explanation on commodity tickers see commodity ticker construction.

Delivery Month Full Ticker Symbol Thomson-Reuters Symbol
January, 2009NFF9NF/F9-NM
February, 2009NFG9NF/G9-NM
March, 2009NFH9NF/H9-NM
April, 2009NFJ9NF/J9-NM
May, 2009NFK9NF/K9-NM
June, 2009NFM9NF/M9-NM
July, 2009NFN9NF/N9-NM
August, 2009NFQ9NF/Q9-NM
September, 2009NFU9NF/U9-NM
October, 2009NFV9NF/V9-NM
November, 2009NFX9NF/X9-NM
December, 2009NFZ9NF/Z9-NM

Contract Specifications

Contract Size

One Nonfat Dry Milk futures contract on the Chicago Mercantile Exchange is 44,000 pounds.[1]

Daily Price Limit

$0.025 per pound above or below the previous day's settlement price, expandable to $0.05.[1]

Trading Hours

  • On the CME Trading floor: Monday - Friday, 9:05 am - 1:10 pm, US Central Time.
  • On the CME Globex electronic trading platform: Monday at 9:05 am through Friday at 1:55 pm with daily halts from 4 to 5 pm, US Central Time

Last Trading Day

Trading of Nonfat Dry Milk futures contracts on the Chicago Mercantile Exchange ends on the business day immediately preceding the day on which the USDA announces the Nonfat Dry Milk price for that contract month. (LTD 12:10 p.m.).[1]

Deliverable Grades

Deliverable Nonfat Dry Milk grades for futures contracts on the Chicago Mercantile Exchange are: Nonfat Dry Milk.[1]


  1. 1.0 1.1 1.2 1.3 1.4 1.5 The Chicago Mercantile Exchange's contract specification for Nonfat Dry Milk futures
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