DALLAS–(BUSINESS WIRE)–Jan. 5, 2005–Dairy.com announced today the launch of exchanges for seven new condensed and dry dairy commodities. These markets include Nonfat Dry Milk and dry and condensed versions of Whey, WPC, and Buttermilk. All of the markets support both spot and contract trading.
These new powders exchanges are based on the “two-sided” trading model underlying Dairy.com’s successful Cream and Condensed Skim markets. The site enables traders to post buy and sell orders using specified quality, quantity and timing parameters and presents matching posts back to the trader for negotiation and deal acceptance.
The new markets are integrated into Dairy.com’s transportation exchange with more than 130 hauler members. Thus, as transactions are completed, traders can easily alert haulers of loads requiring coverage and receive rate quotes back through the site.
Al Zolin, Director of Dairy Procurement for Kraft Foods states, “We think there is significant value in the market visibility and transparency that Dairy.com’s spot markets have brought to the industry. Dairy.com’s Internet-based tools used to schedule both contracted loads and transportation are yielding process and supply chain efficiencies. We look forward to seeing Dairy.com deliver additional benefits to the industry with these new commodity exchanges.”
Customers have already committed to trade and schedule more than three-hundred million pounds of annual purchases of the newly-launched commodities over Dairy.com involving more than 50 companies, ensuring that the exchange will launch with considerable membership and activity.
Scott Sexton, Dairy.com’s CEO said, “We’re pleased to be able to respond to our customers’ requests for these additional condensed and dry markets. The strong interest from our existing customers coupled with new members should drive rapid growth in market liquidity. We’ve decided to provide access to these new commodity markets free of charge for 2005. I invite all interested parties to contact our sales and service group for free registration and training.”
With member companies representing a majority of annual U.S. dairy sales, Dairy.com is the dairy industry’s leading Internet-powered solutions provider, serving cooperatives, processors, manufacturers and haulers. Dairy.com provides comprehensive transaction and trading facilitation services, including scheduling, spot trading, contracting and transportation for a variety of dairy commodities. Dairy.com also provides infrastructure for milk handlers including Collaborative Milk Scheduling(TM) and DairyPay(TM) payroll processing software.