DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2025-10-16 23:00:03 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 | |||||||||||
| OCT25 | 1.17 | +175.7 | 3792.0 | +308.7 | 3792.0 | +178.2 | 3840.0 | +16.91 | 332.9 | -2.69 | 279.9 | +9.70 | 523.9 | +112.2 | 2540.5 | +89.40 | 2092.4 | +57.80 | 1471.6 | -3.26 | 268.8 |
| NOV25 | 1.17 | +179.6 | 3858.1 | +285.9 | 3858.1 | +172.4 | 3717.0 | +16.44 | 323.6 | -2.20 | 280.3 | +9.60 | 512.6 | +109.4 | 2476.6 | +87.30 | 2043.0 | +56.60 | 1438.4 | -2.67 | 271.0 |
| DEC25 | 1.17 | +180.0 | 3869.9 | +280.3 | 3869.9 | +173.2 | 3735.0 | +16.58 | 326.3 | -2.28 | 281.5 | +9.53 | 513.8 | +110.2 | 2495.3 | +88.00 | 2057.9 | +57.10 | 1451.2 | -2.94 | 268.5 |
| JAN26 | 1.17 | +185.8 | 3979.5 | +280.5 | 3979.5 | +169.5 | 3659.0 | +16.40 | 322.9 | -1.93 | 285.0 | +9.32 | 506.3 | +109.4 | 2477.1 | +87.60 | 2047.0 | +57.70 | 1458.3 | -3.01 | 263.7 |
| FEB26 | 1.18 | +192.2 | 4104.2 | +278.5 | 4104.2 | +167.8 | 3623.0 | +16.27 | 320.2 | -1.59 | 289.0 | +9.27 | 502.7 | +109.9 | 2483.9 | +87.80 | 2049.1 | +59.00 | 1481.3 | -3.18 | 257.6 |
| MAR26 | 1.18 | +200.5 | 4268.8 | +286.9 | 4268.8 | +169.0 | 3649.0 | +16.36 | 322.0 | -1.32 | 296.1 | +9.24 | 503.9 | +111.4 | 2514.6 | +88.20 | 2057.6 | +59.60 | 1494.7 | -3.45 | 254.1 |
| APR26 | 1.18 | +212.7 | 4513.8 | +285.3 | 4513.8 | +172.2 | 3717.0 | +16.62 | 327.1 | -0.97 | 308.0 | +9.25 | 509.1 | +114.3 | 2577.6 | +88.60 | 2070.4 | +60.00 | 1508.7 | -3.87 | 250.9 |
| 1Q26 | 1.19 | +192.8 | 4117.5 | +282.0 | 4117.5 | +168.8 | 3643.7 | +16.34 | 321.7 | -1.61 | 290.0 | +9.28 | 504.3 | +110.2 | 2491.9 | +87.90 | 2051.2 | +58.70 | 1478.1 | -3.21 | 258.5 |
| 2Q26 | 1.19 | +221.5 | 4689.9 | +290.5 | 4689.9 | +174.6 | 3766.3 | +16.76 | 330.0 | -0.62 | 317.7 | +9.52 | 517.4 | +116.4 | 2621.3 | +89.00 | 2081.0 | +60.90 | 1528.8 | -4.24 | 246.6 |
| 3Q26 | 1.19 | +238.8 | 5040.3 | +304.1 | 5040.3 | +182.4 | 3931.0 | +17.29 | 340.3 | -0.03 | 339.7 | +10.29 | 542.8 | +123.5 | 2771.3 | +87.60 | 2064.4 | +61.90 | 1559.8 | -5.82 | 225.8 |
| 4Q26 | 1.20 | +242.9 | 5125.7 | +331.7 | 5125.7 | +185.3 | 3992.3 | +17.51 | 344.7 | +0.14 | 347.4 | +10.95 | 560.2 | +127.7 | 2857.7 | +87.00 | 2057.3 | +62.90 | 1583.6 | -6.60 | 214.7 |
| 1Q27 | 1.20 | +230.3 | 4876.6 | +337.4 | 4876.6 | +184.6 | 3976.7 | +17.42 | 342.9 | -0.50 | 332.8 | +12.60 | 591.2 | +131.9 | 2938.7 | +87.50 | 2064.5 | +63.30 | 1588.9 | -8.20 | 182.4 |
| 2025 | 1.20 | +178.4 | 3840.0 | +291.7 | 3840.0 | +174.6 | 3764.0 | +16.64 | 327.6 | -2.39 | 280.6 | +9.61 | 516.8 | +110.6 | 2504.1 | +88.20 | 2064.4 | +57.20 | 1453.7 | -2.95 | 269.4 |
| 2026 | 1.21 | +224.0 | 4743.3 | +302.1 | 4743.3 | +177.8 | 3833.3 | +16.98 | 334.2 | -0.53 | 323.7 | +10.01 | 531.2 | +119.5 | 2685.6 | +87.90 | 2063.5 | +61.10 | 1537.6 | -4.97 | 236.4 |
| 2027 | 1.21 | +220.5 | 4682.0 | +351.8 | 4682.0 | +190.5 | 4092.8 | +17.39 | 342.4 | -0.96 | 323.4 | +15.31 | 643.8 | +144.4 | 3185.0 | +87.70 | 2069.6 | +63.50 | 1592.9 | -9.14 | 162.5 |
| 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 |
| OCT25 |
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| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |