Dairy.com, an independent, neutral Internet exchange serving the dairy industry, announced today the successful launch of its cheese-trading pilot. Seven companies have joined the Dairy.com Cheese Exchange pilot including Kraft Foods, Dairy Farmers of America, Hilmar Cheese, Land O’Lakes, Leprino Foods, Sargento Foods, and Schreiber Foods to validate the functionality of the cheese exchange prior to full industry launch. The cheese exchange is scheduled to open for the entire dairy industry in November.
“After a successful year of trading cream, milk, and condensed skim, we are very excited to expand Dairy.com’s services to include cheese trading, the first of the storable dairy commodities,” stated Scott Sexton, president of Dairy.com. “The cheese exchange will for the first time in the dairy industry create a single place for traders to buy and sell an unlimited variety of cheeses regardless of type or specification, creating increased market liquidity and visibility as well as saving time.”
Participation in the cheese-trading pilot allows companies to see the flexibility of the new exchange first hand. Phil Robnett, vice president of sales and marketing for cheese at Hilmar Cheese commented, “Dairy.com has successfully combined the knowledge of industry veterans with their Internet expertise to offer services that are designed specifically for the dairy industry. The industry will now have a central location to trade mild to aged cheddar, swiss, mozzarella, or any other type of cheese. It is easy to see how this exchange will significantly enhance the way the industry currently buys and sells cheese.”
The scheduled launch of cheese trading in November will allow exchange members to specify any cheese type, quantity, age, form (block, barrel, or tote), condition, and grade among many other variables. Like other commodities currently traded on Dairy.com, cheese trading will be open twenty-four hours a day, seven days a week. In addition to cheese trading, Dairy.com is actively building additional functionality to help the dairy industry create a better way of doing business. Future releases will include exchanges for other dairy commodities as well as solutions focused on streamlining transportation, physical settlement, and other dairy industry processes.
Dairy.com is a neutral, independent e-marketplace focused on serving the dairy industry from producer to manufacturer. With member companies representing a majority of the annual U.S. dairy sales, Dairy.com is the industry’s leading Internet-based commodities exchange and service provider. Under its mission to provide comprehensive Internet-based tools and services to help dairy industry participants create a better way of doing business, Dairy.com currently offers trading of dairy commodities, logistics estimating tools, information services, and herd management software. Visit www.dairy.com for more information.
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