DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2026-02-05 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 | |||||||||||
| FEB26 | 1.18 | +163.8 | 3527.4 | +233.2 | 3527.4 | +149.9 | 3254.0 | +15.42 | 303.5 | -0.02 | 303.1 | +15.69 | 612.3 | +125.7 | 2778.2 | +96.10 | 2194.6 | +78.10 | 1841.8 | +0.83 | 319.8 |
| MAR26 | 1.18 | +194.2 | 4167.3 | +236.7 | 4167.3 | +171.2 | 3715.0 | +17.54 | 345.3 | +1.21 | 369.1 | +18.20 | 703.5 | +127.6 | 2856.5 | +98.10 | 2276.8 | +83.80 | 1995.2 | -1.69 | 312.0 |
| APR26 | 1.18 | +188.6 | 4047.6 | +245.5 | 4047.6 | +166.9 | 3621.0 | +17.07 | 336.0 | +1.00 | 355.6 | +17.72 | 684.8 | +128.1 | 2857.9 | +98.30 | 2271.4 | +82.70 | 1964.6 | -1.23 | 311.8 |
| MAY26 | 1.18 | +200.6 | 4297.0 | +247.0 | 4297.0 | +174.7 | 3788.0 | +17.71 | 348.7 | +1.31 | 374.4 | +18.28 | 708.5 | +134.6 | 2998.0 | +99.80 | 2313.3 | +84.50 | 2011.3 | -2.34 | 302.6 |
| JUN26 | 1.18 | +206.7 | 4420.5 | +251.0 | 4420.5 | +177.5 | 3847.0 | +17.90 | 352.3 | +1.04 | 372.8 | +17.65 | 699.7 | +140.5 | 3117.1 | +100.1 | 2323.5 | +84.70 | 2019.1 | -3.04 | 292.5 |
| JUL26 | 1.19 | +211.6 | 4519.1 | +264.3 | 4519.1 | +179.4 | 3886.0 | +17.99 | 354.2 | +0.83 | 370.6 | +17.08 | 690.5 | +138.1 | 3073.5 | +99.40 | 2310.9 | +84.10 | 2009.4 | -3.53 | 284.7 |
| AUG26 | 1.19 | +213.8 | 4563.0 | +268.9 | 4563.0 | +181.4 | 3926.0 | +18.01 | 354.5 | +0.84 | 371.1 | +16.99 | 688.9 | +136.7 | 3045.9 | +97.80 | 2279.5 | +83.00 | 1988.4 | -3.84 | 279.0 |
| 2Q26 | 1.19 | +198.6 | 4255.0 | +247.9 | 4255.0 | +173.0 | 3752.0 | +17.56 | 345.7 | +1.11 | 367.6 | +17.88 | 697.7 | +134.4 | 2991.0 | +99.40 | 2302.7 | +84.00 | 1998.3 | -2.20 | 302.3 |
| 3Q26 | 1.18 | +213.2 | 4550.8 | +267.2 | 4550.8 | +181.1 | 3919.7 | +18.01 | 354.5 | +0.80 | 370.3 | +17.03 | 689.6 | +138.1 | 3072.5 | +97.80 | 2279.3 | +83.20 | 1992.3 | -3.75 | 280.7 |
| 4Q26 | 1.19 | +214.3 | 4572.7 | +282.2 | 4572.7 | +181.4 | 3926.3 | +18.04 | 355.1 | +0.37 | 362.3 | +16.86 | 687.0 | +144.3 | 3195.2 | +94.00 | 2205.9 | +83.20 | 1993.1 | -3.97 | 277.0 |
| 1Q27 | 1.19 | +210.2 | 4478.0 | +287.9 | 4478.0 | +175.2 | 3789.0 | +17.25 | 339.6 | +0.51 | 349.7 | +15.71 | 648.8 | +149.7 | 3286.6 | +90.60 | 2123.7 | +84.30 | 1999.4 | -4.52 | 250.6 |
| 2Q27 | 1.19 | +211.3 | 4496.3 | +295.1 | 4496.3 | +175.9 | 3799.7 | +17.10 | 336.7 | +0.20 | 339.9 | +14.30 | 618.6 | +152.8 | 3344.7 | +90.70 | 2122.0 | +84.20 | 1994.2 | -6.70 | 205.3 |
| 2026 | 1.20 | +203.3 | 4348.2 | +260.2 | 4348.2 | +175.3 | 3796.6 | +17.62 | 346.8 | +0.73 | 361.2 | +17.20 | 685.3 | +136.7 | 3037.3 | +97.10 | 2257.8 | +83.00 | 1980.7 | -2.78 | 292.0 |
| 2027 | 1.19 | +217.3 | 4618.1 | +298.6 | 4618.1 | +180.1 | 3886.4 | +17.30 | 340.6 | -0.15 | 337.6 | +16.29 | 661.3 | +154.3 | 3378.3 | +90.50 | 2122.2 | +71.70 | 1751.4 | -7.39 | 195.1 |
| 2028 | 1.21 | +231.7 | 4906.5 | +341.6 | 4906.5 | +196.5 | 4215.1 | +17.59 | 346.3 | +0.21 | 350.4 | +21.41 | 767.8 | +176.7 | 3824.7 | +90.10 | 2120.6 | +6.60 | 475.9 | -12.17 | 106.8 |
| 2029 | 1.36 | +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 | 1.72 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
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