Today, Dairy.com, an independent, neutral Internet exchange serving the dairy industry, announced the successful launch of its e-market pilot. The pilot includes several of the founding partners of Dairy.com and will validate the site’s functionality prior to opening the site to the entire dairy industry in March 2001. Seven companies, 66 plants and 69 traders and schedulers are involved in the pilot. The first trade was transacted on January 17 between Land O’Lakes and Suiza Foods. To date, approximately $500,000 of cream has been transacted through the site.
“We are tremendously excited to launch the pilot of Dairy.com’s e-market,” stated Scott Sexton, president of Momentx, the parent company of Dairy.com. “Our team has worked hard to develop a solution to improve the visibility of price and supply in the dairy industry which will deliver real benefits to our customers. We are looking forward to Dairy.com’s official launch to the entire industry in March.”
As one of the organizations participating in the pilot, Dairy Farmers of America experienced Dairy.com’s benefits first hand. John Wilson, corporate vice president, marketing/economic analysis at Dairy Farmers of America, commented, “The Dairy.com team leveraged the expertise of industry veterans to build a site that addresses the dairy industry’s unique business needs. We are very impressed with the technology. It is easy to use and will improve the way we currently do business.”
Dairy.com is on schedule to launch its first release in March 2001 with live trading of select commodities including milk and cream, logistics estimating tools, and industry-focused content. In addition, Dairy.com is working aggressively to build out additional functionality for future releases which will include spot and long-term trading of other dairy commodities including butter, cheese, and powders as well as direct replenishment and farm management tools.
Dairy.com is the first business-to-business online vertical exchange focused specifically on serving the entire U.S. dairy industry. Dairy.com is an independent neutral company whose services and tools will be open to all dairy industry participants. Dairy.com’s mission is to provide comprehensive Internet tools to help the dairy industry create a better way of doing business. Five key functional platforms are under development for the site: a dairy commodity exchange, dairy farmer services, information tools, supply chain management tools and industry-focused community and content. Dairy.com was founded by a broad consortium of leading dairy industry organizations representing all segments of the industry – farmer owned cooperatives, milk, ice cream and yogurt processors and cheese manufacturers. For more information visit www.dairy.com.
Momentx is an e-market solution provider for the dairy and food and beverage industries and operates the INC2inc and Dairy.com e-markets. For more information visit www.momentx.com.