DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2025-11-29 23:00:04 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 | |||||||||||
| DEC25 | 1.16 | +152.1 | 3306.9 | +253.1 | 3306.9 | +158.2 | 3426.0 | +15.87 | 312.4 | -2.37 | 265.7 | +10.64 | 521.9 | +106.5 | 2408.4 | +77.00 | 1829.0 | +56.00 | 1414.2 | -0.90 | 294.7 |
| JAN26 | 1.16 | +154.7 | 3361.1 | +236.5 | 3361.1 | +161.7 | 3498.0 | +16.03 | 315.5 | -2.46 | 267.1 | +10.38 | 519.8 | +106.2 | 2406.1 | +77.00 | 1831.1 | +55.90 | 1415.9 | -1.15 | 292.9 |
| FEB26 | 1.16 | +154.3 | 3340.8 | +240.3 | 3340.8 | +153.4 | 3322.0 | +15.37 | 302.6 | -1.92 | 264.9 | +10.58 | 510.8 | +106.8 | 2404.1 | +77.80 | 1834.6 | +56.70 | 1418.7 | -0.41 | 294.6 |
| MAR26 | 1.17 | +160.4 | 3459.5 | +241.1 | 3459.5 | +154.0 | 3334.0 | +15.36 | 302.3 | -1.77 | 267.4 | +10.33 | 505.7 | +107.4 | 2416.0 | +77.70 | 1832.1 | +57.40 | 1432.6 | -0.53 | 291.8 |
| APR26 | 1.17 | +170.7 | 3669.2 | +249.6 | 3669.2 | +158.2 | 3422.0 | +15.67 | 308.5 | -1.74 | 274.2 | +9.97 | 504.8 | +108.2 | 2437.8 | +78.50 | 1852.9 | +58.60 | 1461.2 | -1.03 | 288.3 |
| MAY26 | 1.17 | +178.6 | 3832.4 | +253.1 | 3832.4 | +162.5 | 3515.0 | +16.05 | 316.0 | -1.77 | 281.2 | +9.73 | 507.5 | +108.8 | 2457.7 | +80.00 | 1891.5 | +59.70 | 1490.7 | -1.51 | 286.3 |
| JUN26 | 1.18 | +184.2 | 3948.6 | +249.1 | 3948.6 | +166.1 | 3592.0 | +16.37 | 322.3 | -1.75 | 287.8 | +9.69 | 513.0 | +109.7 | 2481.4 | +81.00 | 1917.2 | +60.20 | 1508.1 | -1.91 | 284.8 |
| 1Q26 | 1.18 | +156.5 | 3387.1 | +239.3 | 3387.1 | +156.4 | 3384.7 | +15.59 | 306.8 | -2.05 | 266.5 | +10.43 | 512.1 | +106.8 | 2408.7 | +77.50 | 1832.6 | +56.70 | 1422.4 | -0.70 | 293.1 |
| 2Q26 | 1.18 | +177.9 | 3816.7 | +250.6 | 3816.7 | +162.3 | 3509.7 | +16.03 | 315.6 | -1.75 | 281.1 | +9.80 | 508.4 | +108.9 | 2459.0 | +79.80 | 1887.2 | +59.50 | 1486.7 | -1.48 | 286.5 |
| 3Q26 | 1.19 | +190.8 | 4088.9 | +265.1 | 4088.9 | +173.4 | 3747.0 | +16.97 | 334.1 | -1.75 | 299.7 | +9.96 | 530.1 | +113.3 | 2564.5 | +80.20 | 1912.5 | +59.90 | 1513.4 | -2.76 | 279.8 |
| 4Q26 | 1.19 | +198.2 | 4243.7 | +282.8 | 4243.7 | +178.7 | 3860.3 | +17.37 | 342.0 | -1.33 | 315.8 | +10.70 | 552.7 | +119.3 | 2691.1 | +79.80 | 1913.2 | +61.00 | 1542.9 | -3.68 | 269.5 |
| 1Q27 | 1.19 | +212.8 | 4524.6 | +286.9 | 4524.6 | +176.0 | 3801.3 | +17.10 | 336.7 | -0.70 | 322.3 | +12.60 | 584.0 | +124.7 | 2791.6 | +80.30 | 1916.4 | +62.70 | 1570.6 | -5.20 | 235.3 |
| 2025 | 1.20 | +156.4 | 3403.9 | +260.0 | 3403.9 | +168.7 | 3645.5 | +16.54 | 325.5 | -2.87 | 269.0 | +10.10 | 524.3 | +105.4 | 2399.3 | +77.10 | 1843.8 | +55.10 | 1410.1 | -1.79 | 290.4 |
| 2026 | 1.20 | +180.8 | 3884.1 | +259.5 | 3884.1 | +167.7 | 3625.4 | +16.49 | 324.6 | -1.72 | 290.8 | +10.22 | 525.8 | +112.1 | 2530.8 | +79.30 | 1886.4 | +59.30 | 1491.3 | -2.16 | 282.2 |
| 2027 | 1.20 | +217.7 | 4619.4 | +379.1 | 4619.4 | +177.0 | 3818.8 | +17.00 | 334.6 | -0.56 | 323.7 | +17.34 | 676.0 | +137.3 | 3036.7 | +80.40 | 1918.0 | +62.90 | 1571.9 | -7.27 | 191.5 |
| 2028 | 1.20 | +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 | 1.21 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
| DEC25 |
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