Duffy believes the market for dairy futures will continue to develop rapidly throughout 2003. "When we launched dairy futures eight years ago, we anticipated that this market would become an important part of our 'agricultural complex'.”
The CME offers various products in its so-called 'dairy complex', including options, futures and cash markets in butter, cheese and non-fat dry milk. Trading was launched in January 1996. The record performance set this week surpasses the previous record set on June 1, 2001.