DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2025-12-21 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 | |||||||||||
| DEC25 | 1.17 | +155.5 | 3372.0 | +243.3 | 3372.0 | +154.7 | 3355.0 | +15.77 | 310.4 | -2.22 | 266.7 | +10.89 | 524.7 | +105.1 | 2379.7 | +70.20 | 1692.4 | +54.00 | 1373.8 | +0.13 | 313.0 |
| JAN26 | 1.17 | +154.6 | 3351.0 | +241.3 | 3351.0 | +152.5 | 3311.0 | +15.66 | 308.3 | -1.86 | 271.6 | +11.01 | 525.0 | +106.0 | 2394.5 | +74.10 | 1767.6 | +56.30 | 1415.8 | +0.36 | 315.4 |
| FEB26 | 1.18 | +155.1 | 3359.9 | +238.8 | 3359.9 | +152.9 | 3317.0 | +15.61 | 307.3 | -1.89 | 270.1 | +11.04 | 524.7 | +106.4 | 2401.2 | +74.10 | 1765.2 | +56.30 | 1416.2 | +0.21 | 311.4 |
| MAR26 | 1.18 | +159.8 | 3450.1 | +241.9 | 3450.1 | +153.5 | 3327.0 | +15.52 | 305.5 | -1.66 | 272.9 | +11.06 | 523.3 | +106.8 | 2408.5 | +73.90 | 1760.7 | +56.40 | 1415.1 | -0.16 | 302.4 |
| APR26 | 1.18 | +170.9 | 3673.3 | +250.3 | 3673.3 | +157.5 | 3410.0 | +15.74 | 309.8 | -1.56 | 279.0 | +10.67 | 519.9 | +107.9 | 2434.4 | +75.10 | 1787.7 | +57.00 | 1431.3 | -0.82 | 293.7 |
| MAY26 | 1.19 | +180.2 | 3865.6 | +255.0 | 3865.6 | +162.9 | 3526.0 | +16.21 | 319.1 | -1.71 | 285.4 | +10.06 | 517.1 | +109.3 | 2470.6 | +76.10 | 1816.8 | +57.50 | 1451.1 | -1.46 | 290.3 |
| JUN26 | 1.19 | +185.3 | 3976.1 | +260.2 | 3976.1 | +167.9 | 3634.0 | +16.68 | 328.3 | -1.95 | 289.9 | +9.67 | 518.6 | +111.4 | 2520.9 | +76.70 | 1837.6 | +58.00 | 1470.3 | -2.16 | 285.8 |
| 1Q26 | 1.19 | +156.5 | 3387.0 | +240.7 | 3387.0 | +153.0 | 3318.3 | +15.60 | 307.0 | -1.80 | 271.5 | +11.04 | 524.3 | +106.4 | 2401.4 | +74.00 | 1764.5 | +56.30 | 1415.7 | +0.14 | 309.7 |
| 2Q26 | 1.20 | +178.8 | 3838.3 | +255.2 | 3838.3 | +162.8 | 3523.3 | +16.21 | 319.1 | -1.74 | 284.8 | +10.13 | 518.5 | +109.5 | 2475.3 | +75.90 | 1814.0 | +57.50 | 1450.9 | -1.48 | 289.9 |
| 3Q26 | 1.20 | +191.2 | 4103.0 | +270.1 | 4103.0 | +174.3 | 3770.3 | +17.29 | 340.3 | -2.05 | 299.9 | +9.63 | 529.9 | +115.8 | 2620.0 | +76.00 | 1836.5 | +58.20 | 1485.6 | -3.00 | 281.2 |
| 4Q26 | 1.20 | +200.0 | 4282.6 | +284.6 | 4282.6 | +177.4 | 3837.7 | +17.58 | 346.1 | -1.68 | 313.1 | +10.22 | 547.2 | +121.7 | 2741.1 | +77.60 | 1873.9 | +61.00 | 1547.5 | -3.34 | 280.3 |
| 1Q27 | 1.21 | +207.0 | 4412.9 | +283.5 | 4412.9 | +174.0 | 3763.7 | +17.16 | 337.8 | -1.00 | 317.9 | +12.30 | 580.3 | +127.0 | 2837.9 | +80.40 | 1920.2 | +63.00 | 1578.2 | -4.40 | 251.7 |
| 2025 | 1.21 | +155.5 | 3372.0 | +243.3 | 3372.0 | +154.7 | 3355.0 | +15.77 | 310.4 | -2.22 | 266.7 | +10.89 | 524.7 | +105.1 | 2379.7 | +70.20 | 1692.4 | +54.00 | 1373.8 | +0.13 | 313.0 |
| 2026 | 1.21 | +181.6 | 3902.7 | +262.7 | 3902.7 | +166.8 | 3612.4 | +16.67 | 328.1 | -1.82 | 292.3 | +10.26 | 530.0 | +113.4 | 2559.5 | +75.90 | 1822.2 | +58.30 | 1474.9 | -1.92 | 290.3 |
| 2027 | 1.21 | +221.5 | 4699.0 | +283.0 | 4699.0 | +174.9 | 3781.4 | +17.25 | 339.5 | -0.75 | 324.8 | +15.31 | 640.9 | +131.4 | 2925.2 | +80.30 | 1919.7 | +62.70 | 1574.2 | -10.18 | 139.1 |
| 2028 | 1.22 | +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 |
| DEC25 |
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