The US dairy industry is a multi-billion dollar business that involves the collection and processing of milk from cows and goats for human consumption. The industry is supported and well-regulated by the government, although it faces many challenges in production, operation, and marketing. There are various futures and options investments on the Chicago Mercantile Exchange (CME), such as Class III Milk, Class IV Milk, Cheese, Butter, Nonfat Dry Milk, and Dry Whey. These investment opportunities help producers and processors to regulate price and supply, as well as manage price risk.