Tuesday, December 6th 2016
The planned change for selling nonfat dry milk on the Chicago Mercantile Exchange has been delayed. The CME was planning to switch electronic direct auction platform starting Monday, December 5th, but officials found a software issue during live testing that might have impacted the integrity of the new process and the market. CME officials have set a new date of January 9th to allow for software corrections and additional live practice with the new online trading system. Until then, the market schedule and trading method will remain unchanged. The CME has said cheese and butter will likely switch to the new system later in 2017 after successfully implementing the nonfat dry milk market changes.