DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2026-02-17 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 | |||||||||||
| FEB26 | 1.19 | +164.6 | 3535.7 | +233.7 | 3535.7 | +146.6 | 3183.0 | +15.07 | 296.6 | +0.46 | 305.7 | +15.12 | 594.3 | +129.5 | 2846.1 | +95.90 | 2184.9 | +76.80 | 1808.2 | +0.94 | 315.2 |
| MAR26 | 1.19 | +192.8 | 4107.8 | +247.9 | 4107.8 | +156.1 | 3386.0 | +15.92 | 313.4 | +2.33 | 359.2 | +17.80 | 663.8 | +131.3 | 2898.3 | +97.60 | 2233.6 | +81.10 | 1909.3 | -0.02 | 313.0 |
| APR26 | 1.19 | +187.4 | 4000.7 | +260.3 | 4000.7 | +155.6 | 3374.0 | +15.85 | 311.9 | +1.69 | 345.1 | +16.85 | 643.6 | +132.9 | 2927.1 | +97.70 | 2234.3 | +80.00 | 1887.0 | -0.06 | 310.7 |
| MAY26 | 1.19 | +197.9 | 4218.5 | +259.2 | 4218.5 | +162.2 | 3515.0 | +16.41 | 323.1 | +1.57 | 354.0 | +16.51 | 648.0 | +138.1 | 3040.6 | +98.60 | 2263.9 | +80.70 | 1911.2 | -1.05 | 302.4 |
| JUN26 | 1.19 | +202.3 | 4313.8 | +264.7 | 4313.8 | +167.5 | 3628.0 | +16.85 | 331.7 | +0.92 | 349.9 | +15.26 | 632.0 | +141.4 | 3114.4 | +99.00 | 2280.9 | +80.50 | 1916.5 | -1.95 | 293.4 |
| JUL26 | 1.20 | +207.0 | 4413.0 | +277.4 | 4413.0 | +172.3 | 3731.0 | +17.21 | 338.7 | +0.58 | 350.2 | +14.60 | 626.1 | +140.2 | 3099.2 | +98.30 | 2273.9 | +80.00 | 1912.6 | -2.56 | 288.4 |
| AUG26 | 1.20 | +211.8 | 4512.7 | +282.9 | 4512.7 | +176.1 | 3811.0 | +17.49 | 344.3 | +0.43 | 352.8 | +14.38 | 627.3 | +139.9 | 3099.0 | +96.30 | 2239.0 | +79.00 | 1898.9 | -2.91 | 287.1 |
| 2Q26 | 1.20 | +195.9 | 4177.7 | +261.4 | 4177.7 | +161.7 | 3505.7 | +16.37 | 322.2 | +1.39 | 349.7 | +16.20 | 641.2 | +137.4 | 3027.4 | +98.40 | 2259.7 | +80.40 | 1904.9 | -1.02 | 302.2 |
| 3Q26 | 1.21 | +211.3 | 4503.1 | +282.1 | 4503.1 | +175.6 | 3799.7 | +17.47 | 344.0 | +0.44 | 352.6 | +14.39 | 627.2 | +140.6 | 3112.2 | +96.30 | 2240.1 | +78.90 | 1897.8 | -2.85 | 287.8 |
| 4Q26 | 1.21 | +215.8 | 4600.4 | +285.2 | 4600.4 | +179.5 | 3885.7 | +17.91 | 352.6 | +0.22 | 357.0 | +13.98 | 627.8 | +144.6 | 3198.8 | +93.30 | 2189.7 | +78.10 | 1889.1 | -3.36 | 286.4 |
| 1Q27 | 1.22 | +210.1 | 4474.9 | +298.4 | 4474.9 | +174.8 | 3779.7 | +17.20 | 338.5 | +0.52 | 348.7 | +14.68 | 627.4 | +152.9 | 3347.5 | +94.00 | 2188.3 | +81.50 | 1943.6 | -4.35 | 253.0 |
| 2Q27 | 1.22 | +211.3 | 4496.3 | +300.8 | 4496.3 | +175.9 | 3799.7 | +17.11 | 336.7 | +0.70 | 351.0 | +14.70 | 627.0 | +159.3 | 3472.8 | +94.10 | 2190.0 | +82.60 | 1961.8 | -6.40 | 209.8 |
| 2026 | 1.22 | +202.4 | 4317.0 | +269.8 | 4317.0 | +168.5 | 3649.3 | +16.93 | 333.3 | +0.81 | 349.3 | +15.15 | 631.5 | +139.0 | 3069.0 | +96.20 | 2226.1 | +79.10 | 1890.3 | -1.89 | 296.1 |
| 2027 | 1.23 | +217.3 | 4617.3 | +299.1 | 4617.3 | +180.0 | 3884.1 | +17.27 | 340.0 | +0.05 | 340.9 | +16.16 | 658.0 | +160.9 | 3507.5 | +91.50 | 2141.9 | +72.80 | 1773.8 | -6.53 | 211.4 |
| 2028 | 1.23 | +231.7 | 4906.5 | +288.4 | 4906.5 | +196.5 | 4215.1 | +17.59 | 346.3 | +0.21 | 350.4 | +21.41 | 767.8 | +171.0 | 3712.0 | +78.20 | 1885.9 | +23.30 | 805.8 | -7.92 | 190.5 |
| 2029 | 1.23 | +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 |
| 2030 | 1.24 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
| FEB26 |
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| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
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| 2028 |
| 2029 |
| 2030 |