CME Group to Expand Dairy Derivatives into European Market

The agreement allows CME Group to leverage its dominant position in U.S. dairy markets—where trading volumes surged 73% over the last five years—to capture a significant, largely unhedged European market. The European Union currently contributes roughly 20% of global cow's milk production and over 30% of nonfat dry milk exports. By incorporating the European butter and skimmed milk powder indices into its platform, CME Group intends to offer global clients a unified venue for price risk management.

Tobias Paulun, CEO of EEX, stated that the decision aligns with the exchange’s strategy to refocus on core energy markets and the broader energy transition. While EEX prepares to exit the sector, current dairy futures trading will continue for all listed maturities without immediate changes to the pan-European butter or WECI indices. CME Group reported record open interest of 434,071 dairy contracts on September 1, 2026, signaling sustained demand for these financial tools as global protein consumption patterns shift.