DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-08-28 23:00:03 GMT
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| US | DE | US | US | US | US | DE | US | NZ | NZ | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| European Euro | Butter Cash Settled | Eurex Butter | Cheddar Cheese Cash Settled | Class 3 Composite | Class 4 Composite | Nonfat Dry Composite | Eurex Skimmed Milk Powder | Whey, Dry, Electronic | Whole Milk Powder | Skimmed Milk Powder | |||||||||||
| Pips | CMG | EUREX | CMG | CME | GLOBEX | GLOBEX | EUREX | GLOBEX | NZF | NZF | |||||||||||
| DA basis | EUR/mT | DA Basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | DA basis | EUR/mT | ||
| Swap | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | |
| EUR | C3CBE | FBUTE | C3CSCE | C3QDAE | C3GDKE | C3GNFE | FSMPE | C3DYE | WMPE | SMPE | |||||||||||
| AUG25 | 1.17 | +259.1 | 4656.1 | +399.4 | 8201.2 | +179.1 | 3865.0 | +17.27 | 339.9 | +1.20 | 363.6 | +12.23 | 580.7 | +125.1 | 2802.0 | -3.93 | 262.6 | +103.2 | 2372.3 | +65.90 | 1636.5 |
| SEP25 | 1.17 | +235.6 | 4268.7 | +382.6 | 7887.5 | +189.5 | 4087.0 | +18.08 | 355.9 | -0.71 | 341.9 | +11.07 | 573.8 | +125.9 | 2834.0 | -4.95 | 258.5 | +92.90 | 2184.3 | +62.10 | 1579.1 |
| OCT25 | 1.17 | +243.2 | 4381.3 | +365.6 | 7545.9 | +185.6 | 4003.0 | +17.78 | 349.9 | -0.08 | 348.4 | +11.41 | 574.4 | +126.2 | 2834.7 | -4.57 | 259.9 | +94.00 | 2200.9 | +63.00 | 1590.2 |
| NOV25 | 1.17 | +240.7 | 4330.9 | +369.4 | 7621.7 | +185.6 | 4003.0 | +17.76 | 349.5 | -0.27 | 344.1 | +11.19 | 569.7 | +126.3 | 2835.3 | -4.70 | 257.0 | +94.90 | 2217.1 | +63.60 | 1601.0 |
| DEC25 | 1.17 | +242.5 | 4364.6 | +366.1 | 7552.2 | +183.7 | 3962.0 | +17.61 | 346.7 | -0.08 | 345.2 | +11.22 | 567.5 | +127.1 | 2849.4 | -4.93 | 249.7 | +93.30 | 2184.1 | +64.20 | 1610.7 |
| JAN26 | 1.18 | +242.1 | 4330.5 | +356.7 | 7366.3 | +182.6 | 3940.0 | +17.57 | 345.9 | +0.05 | 346.8 | +11.21 | 566.5 | +127.8 | 2861.4 | -5.33 | 241.0 | +93.20 | 2181.0 | +65.50 | 1634.4 |
| FEB26 | 1.19 | +242.1 | 4311.7 | +355.0 | 7332.8 | +182.3 | 3934.0 | +17.55 | 345.4 | +0.15 | 348.3 | +11.20 | 565.9 | +128.5 | 2874.5 | -5.61 | 234.9 | +93.50 | 2185.5 | +66.40 | 1653.3 |
| 4Q25 | 1.19 | +242.2 | 4299.6 | +367.0 | 7573.3 | +185.0 | 3989.3 | +17.71 | 348.7 | -0.14 | 345.9 | +11.27 | 570.5 | +126.6 | 2839.8 | -4.73 | 255.5 | +94.10 | 2200.7 | +63.60 | 1600.6 |
| 1Q26 | 1.19 | +242.8 | 4293.3 | +355.3 | 7338.9 | +182.6 | 3939.7 | +17.57 | 345.9 | +0.14 | 348.6 | +11.19 | 566.3 | +128.5 | 2876.3 | -5.61 | 235.4 | +93.50 | 2185.6 | +66.40 | 1652.6 |
| 2Q26 | 1.19 | +252.6 | 4457.2 | +365.1 | 7535.0 | +184.2 | 3975.0 | +17.69 | 348.2 | +0.57 | 359.5 | +11.32 | 571.1 | +129.7 | 2900.9 | -5.97 | 230.6 | +95.30 | 2224.6 | +69.40 | 1714.2 |
| 3Q26 | 1.20 | +262.3 | 4605.7 | +376.7 | 7767.4 | +187.6 | 4045.7 | +17.88 | 352.0 | +1.00 | 371.7 | +11.67 | 581.7 | +133.7 | 2984.3 | -6.48 | 224.4 | +93.20 | 2185.7 | +69.50 | 1720.1 |
| 4Q26 | 1.20 | +273.8 | 4782.1 | +378.1 | 7797.4 | +190.1 | 4096.3 | +18.00 | 354.4 | +1.20 | 377.5 | +11.90 | 588.0 | +138.0 | 3070.2 | -7.10 | 214.9 | +93.90 | 2203.0 | +69.00 | 1712.1 |
| 2025 | 1.20 | +244.2 | 4281.5 | +376.6 | 7761.7 | +184.7 | 3984.0 | +17.70 | 348.4 | +0.01 | 348.6 | +11.42 | 573.2 | +126.1 | 2831.1 | -4.61 | 257.5 | +95.70 | 2231.7 | +63.80 | 1603.5 |
| 2026 | 1.21 | +257.9 | 4493.8 | +368.8 | 7609.7 | +186.1 | 4014.2 | +17.79 | 350.1 | +0.72 | 364.3 | +11.51 | 576.8 | +132.5 | 2957.9 | -6.29 | 226.3 | +94.00 | 2199.7 | +68.60 | 1699.8 |
| 2027 | 1.21 | +219.8 | 3831.5 | +416.9 | 8519.9 | +189.1 | 4036.5 | +15.95 | 314.1 | +0.26 | 319.2 | +18.55 | 679.3 | +138.9 | 3049.1 | -7.24 | 171.5 | +96.30 | 2210.6 | +71.20 | 1715.0 |
| 2028 | 1.21 | +230.8 | 4079.1 | +592.8 | 10531 | -36.10 | -676.9 | -1.88 | -33.40 | +16.23 | 255.8 | +30.23 | 505.3 | +175.4 | 3092.5 | +2.97 | 19.40 | +113.2 | 1984.8 | +109.7 | 1921.0 |
| 2029 | 1.22 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| AUG25 |
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| SEP25 |
| OCT25 |
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| 4Q25 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |