DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-10-28 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 | |||||||||||
| OCT25 | 1.17 | +174.7 | 3230.1 | +314.7 | 6527.4 | +177.8 | 3832.0 | +16.92 | 333.1 | -2.77 | 278.5 | +9.61 | 522.3 | +105.9 | 2418.6 | -3.24 | 269.4 | +85.30 | 2011.7 | +56.60 | 1447.6 |
| NOV25 | 1.16 | +170.5 | 3170.7 | +289.2 | 6044.4 | +184.5 | 3984.0 | +17.90 | 352.3 | -3.88 | 276.0 | +8.41 | 517.9 | +107.3 | 2465.0 | -2.94 | 294.4 | +85.10 | 2027.2 | +57.60 | 1485.5 |
| DEC25 | 1.17 | +172.5 | 3192.8 | +287.2 | 5996.4 | +178.9 | 3865.0 | +17.46 | 343.7 | -3.30 | 278.7 | +8.90 | 518.8 | +107.5 | 2460.0 | -2.68 | 290.9 | +85.50 | 2026.4 | +57.90 | 1482.7 |
| JAN26 | 1.17 | +174.2 | 3215.1 | +285.7 | 5963.7 | +171.9 | 3723.0 | +17.23 | 339.2 | -2.92 | 281.7 | +8.99 | 516.2 | +108.9 | 2482.8 | -1.82 | 303.3 | +85.70 | 2026.0 | +58.00 | 1480.3 |
| FEB26 | 1.17 | +177.5 | 3256.7 | +286.2 | 5963.8 | +166.2 | 3603.0 | +16.82 | 331.1 | -2.45 | 282.8 | +9.27 | 513.6 | +110.7 | 2509.9 | -1.29 | 305.7 | +86.40 | 2031.7 | +58.90 | 1490.5 |
| MAR26 | 1.17 | +183.4 | 3342.9 | +287.0 | 5979.0 | +166.7 | 3611.0 | +16.79 | 330.5 | -2.20 | 287.2 | +9.32 | 513.9 | +112.5 | 2544.4 | -1.37 | 303.5 | +87.00 | 2043.6 | +59.50 | 1502.3 |
| APR26 | 1.17 | +194.4 | 3515.1 | +296.4 | 6166.8 | +168.9 | 3658.0 | +16.91 | 332.9 | -1.73 | 298.8 | +9.32 | 516.4 | +114.7 | 2590.5 | -1.76 | 298.2 | +87.90 | 2063.0 | +60.20 | 1517.3 |
| 1Q26 | 1.17 | +178.4 | 3242.3 | +286.3 | 5968.8 | +168.3 | 3645.7 | +16.95 | 333.6 | -2.52 | 283.9 | +9.19 | 514.6 | +110.7 | 2512.4 | -1.50 | 304.2 | +86.40 | 2033.8 | +58.80 | 1491.0 |
| 2Q26 | 1.17 | +203.8 | 3653.3 | +301.1 | 6260.1 | +170.7 | 3694.0 | +16.95 | 333.6 | -1.30 | 308.0 | +9.52 | 520.9 | +116.8 | 2632.3 | -2.18 | 290.7 | +88.60 | 2077.1 | +60.70 | 1528.9 |
| 3Q26 | 1.17 | +225.1 | 4000.0 | +313.6 | 6516.6 | +178.6 | 3857.3 | +17.41 | 342.7 | -0.57 | 331.5 | +10.23 | 544.1 | +122.4 | 2752.0 | -4.12 | 261.6 | +87.30 | 2061.5 | +61.60 | 1555.7 |
| 4Q26 | 1.18 | +236.0 | 4171.7 | +326.9 | 6781.3 | +183.5 | 3958.3 | +17.64 | 347.2 | -0.07 | 345.8 | +10.91 | 562.0 | +127.2 | 2851.6 | -5.84 | 232.2 | +87.10 | 2062.5 | +62.90 | 1586.0 |
| 1Q27 | 1.18 | +229.0 | 4042.2 | +335.0 | 6937.8 | +183.4 | 3954.0 | +17.44 | 343.3 | -0.50 | 332.6 | +12.50 | 589.2 | +131.1 | 2924.0 | -7.90 | 187.0 | +88.00 | 2076.5 | +64.00 | 1603.0 |
| 2025 | 1.18 | +172.5 | 3107.0 | +297.0 | 6189.4 | +180.4 | 3893.7 | +17.43 | 343.0 | -3.32 | 277.7 | +8.97 | 519.7 | +106.9 | 2447.9 | -2.95 | 284.9 | +85.30 | 2021.8 | +57.40 | 1471.9 |
| 2026 | 1.17 | +210.8 | 3719.0 | +307.0 | 6381.7 | +175.2 | 3788.8 | +17.24 | 339.3 | -1.12 | 317.3 | +9.96 | 535.4 | +119.3 | 2687.1 | -3.41 | 272.2 | +87.40 | 2058.7 | +61.00 | 1540.4 |
| 2027 | 1.18 | +219.9 | 3862.4 | +329.4 | 6831.1 | +188.4 | 4054.1 | +17.60 | 346.4 | -1.17 | 323.4 | +15.09 | 643.3 | +135.3 | 3009.6 | -9.29 | 163.6 | +88.20 | 2081.9 | +64.00 | 1607.0 |
| 2028 | 1.18 | +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 | 1.13 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| OCT25 |
|---|
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |