DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2025-06-21 23:00:02 GMT
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US | DE | US | US | US | US | DE | NZ | NZ | US | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
European Euro | Butter Cash Settled | EEX Butter | Cheddar Cheese Cash Settled | Class 3 Milk Composite | Class 4 Milk Composite | Nonfat Dry Composite | Eurex Skimmed Milk Powder | Whole Milk Powder | Skimmed Milk Powder | Whey, Dry, Electronic | |||||||||||
Pips | CMG | EUREX | CMG | CME | GLOBEX | GLOBEX | EUREX | NZF | NZF | GLOBEX | |||||||||||
DA basis | US$/mt | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | ||
Swap | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | |
EUR | C3CB | FBUT | C3CSC | C3QDA | C3GDK | C3GNF | FASM | WMP | SMP | C3DY | |||||||||||
JUN25 | 1.15 | +265.1 | 5585.4 | +421.8 | 5585.4 | +196.3 | 4231.0 | +18.66 | 367.3 | -0.21 | 363.2 | +10.26 | 569.3 | +124.3 | 2814.8 | +102.5 | 2384.0 | +64.70 | 1641.3 | -6.16 | 246.1 |
JUL25 | 1.16 | +274.5 | 5749.7 | +421.4 | 5749.7 | +185.5 | 3997.0 | +17.57 | 345.9 | +1.56 | 376.6 | +11.58 | 573.8 | +125.9 | 2823.8 | +95.00 | 2216.4 | +65.10 | 1627.3 | -5.35 | 240.6 |
AUG25 | 1.16 | +274.3 | 5752.4 | +420.7 | 5752.4 | +189.6 | 4085.0 | +17.96 | 353.6 | +1.09 | 375.0 | +11.13 | 572.7 | +125.8 | 2829.3 | +95.80 | 2240.0 | +65.30 | 1638.3 | -5.70 | 241.4 |
SEP25 | 1.16 | +282.3 | 5911.5 | +420.4 | 5911.5 | +190.8 | 4111.0 | +18.04 | 355.2 | +1.44 | 383.6 | +11.20 | 575.6 | +126.6 | 2847.0 | +96.60 | 2257.4 | +65.50 | 1644.9 | -5.94 | 238.2 |
OCT25 | 1.17 | +288.1 | 6032.8 | +419.2 | 6032.8 | +194.8 | 4198.0 | +18.43 | 362.7 | +1.38 | 389.8 | +11.04 | 580.0 | +128.1 | 2883.5 | +94.70 | 2227.0 | +65.70 | 1655.8 | -6.41 | 236.5 |
NOV25 | 1.17 | +291.8 | 6110.3 | +419.1 | 6110.3 | +196.5 | 4235.0 | +18.60 | 366.2 | +1.43 | 394.4 | +11.10 | 584.6 | +130.1 | 2926.2 | +93.70 | 2211.0 | +66.40 | 1673.0 | -6.62 | 235.9 |
DEC25 | 1.18 | +291.5 | 6103.0 | +410.0 | 6103.0 | +195.0 | 4203.0 | +18.55 | 365.1 | +1.59 | 396.4 | +11.26 | 586.8 | +132.2 | 2967.6 | +93.50 | 2205.4 | +67.30 | 1690.1 | -6.56 | 235.9 |
3Q25 | 1.18 | +277.0 | 5804.5 | +420.8 | 5804.5 | +188.6 | 4064.3 | +17.86 | 351.6 | +1.36 | 378.4 | +11.30 | 574.0 | +126.1 | 2833.4 | +95.80 | 2237.9 | +65.30 | 1636.8 | -5.66 | 240.1 |
4Q25 | 1.18 | +290.5 | 6082.0 | +416.1 | 6082.0 | +195.5 | 4212.0 | +18.53 | 364.7 | +1.47 | 393.5 | +11.13 | 583.8 | +130.1 | 2925.8 | +94.00 | 2214.5 | +66.50 | 1673.0 | -6.53 | 236.1 |
1Q26 | 1.19 | +281.7 | 5905.7 | +400.0 | 5905.7 | +188.8 | 4076.0 | +18.28 | 359.8 | +1.56 | 390.5 | +11.67 | 589.5 | +134.6 | 3010.3 | +94.40 | 2217.3 | +70.40 | 1745.4 | -6.16 | 238.6 |
2Q26 | 1.19 | +280.7 | 5880.9 | +402.1 | 5880.9 | +187.8 | 4053.7 | +18.11 | 356.4 | +1.58 | 387.5 | +12.05 | 593.5 | +137.3 | 3058.5 | +96.90 | 2263.9 | +73.40 | 1802.0 | -6.12 | 235.9 |
3Q26 | 1.20 | +281.1 | 5894.2 | +403.4 | 5894.2 | +190.1 | 4103.0 | +18.36 | 361.5 | +1.30 | 387.5 | +12.40 | 605.3 | +139.3 | 3103.5 | +96.50 | 2261.3 | +73.50 | 1807.3 | -7.00 | 224.4 |
2025 | 1.20 | +281.1 | 5892.2 | +418.9 | 5892.2 | +192.6 | 4151.4 | +18.26 | 359.4 | +1.18 | 382.7 | +11.08 | 577.5 | +127.6 | 2870.3 | +96.00 | 2248.7 | +65.70 | 1653.0 | -6.11 | 239.2 |
2026 | 1.21 | +280.8 | 5888.1 | +401.6 | 5888.1 | +189.3 | 4085.7 | +18.29 | 360.1 | +1.39 | 387.4 | +12.18 | 599.9 | +137.9 | 3075.0 | +96.10 | 2251.7 | +72.10 | 1778.5 | -6.69 | 228.4 |
2027 | 1.21 | -157.3 | -2733.0 | +358.5 | -2733.0 | +163.0 | 3570.8 | +18.42 | 362.6 | -18.83 | -8.15 | +35.90 | 1069.3 | +132.4 | 2969.2 | +96.70 | 2265.4 | +71.00 | 1759.9 | -21.78 | -66.05 |
2028 | 1.21 | +230.8 | 4505.6 | +592.8 | 11632 | -36.10 | -747.7 | -1.88 | -36.91 | +16.23 | 282.5 | +30.23 | 558.1 | +175.4 | 3415.8 | +113.2 | 2192.3 | +109.7 | 2121.9 | +2.97 | 21.46 |
2029 | 1.22 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
JUN25 |
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JUL25 |
AUG25 |
SEP25 |
OCT25 |
NOV25 |
DEC25 |
3Q25 |
4Q25 |
1Q26 |
2Q26 |
3Q26 |
2025 |
2026 |
2027 |
2028 |
2029 |