DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-12-12 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 | |||||||||||
| DEC25 | 1.17 | +158.8 | 2929.4 | +241.7 | 5071.0 | +154.9 | 3362.0 | +15.87 | 312.4 | -2.10 | 271.1 | +10.87 | 526.3 | +106.1 | 2400.5 | +0.20 | 316.4 | +81.10 | 1908.6 | +58.30 | 1459.7 |
| JAN26 | 1.17 | +158.6 | 2915.3 | +232.4 | 4880.2 | +150.5 | 3269.0 | +15.55 | 306.1 | -1.85 | 269.7 | +10.77 | 518.1 | +107.7 | 2426.0 | +0.92 | 324.3 | +79.10 | 1862.5 | +59.00 | 1467.3 |
| FEB26 | 1.18 | +159.1 | 2920.5 | +233.1 | 4895.1 | +151.7 | 3293.0 | +15.61 | 307.2 | -1.94 | 269.1 | +10.73 | 518.5 | +106.9 | 2412.2 | +0.67 | 320.3 | +79.70 | 1875.3 | +59.00 | 1468.4 |
| MAR26 | 1.18 | +163.0 | 2981.6 | +235.5 | 4942.9 | +152.4 | 3308.0 | +15.63 | 307.6 | -1.92 | 269.8 | +10.39 | 512.1 | +106.9 | 2411.7 | +0.37 | 314.9 | +79.20 | 1867.2 | +59.30 | 1474.8 |
| APR26 | 1.18 | +171.9 | 3133.0 | +237.1 | 4981.4 | +157.0 | 3405.0 | +15.95 | 314.0 | -1.94 | 275.9 | +9.83 | 507.4 | +107.1 | 2421.7 | -0.50 | 304.1 | +79.60 | 1880.5 | +59.60 | 1488.1 |
| MAY26 | 1.18 | +180.4 | 3271.5 | +242.7 | 5098.1 | +162.5 | 3520.0 | +16.34 | 321.7 | -1.96 | 283.2 | +9.48 | 508.3 | +107.5 | 2437.8 | -1.39 | 294.4 | +80.30 | 1902.3 | +60.10 | 1505.6 |
| JUN26 | 1.18 | +185.9 | 3358.3 | +248.7 | 5223.9 | +167.0 | 3616.0 | +16.68 | 328.3 | -2.00 | 289.0 | +9.38 | 512.9 | +108.1 | 2455.7 | -2.05 | 288.0 | +81.00 | 1922.7 | +60.40 | 1517.7 |
| 1Q26 | 1.18 | +160.2 | 2904.0 | +233.6 | 4906.1 | +151.5 | 3290.0 | +15.59 | 307.0 | -1.90 | 269.5 | +10.63 | 516.2 | +107.2 | 2416.6 | +0.65 | 319.8 | +79.30 | 1868.3 | +59.10 | 1470.2 |
| 2Q26 | 1.18 | +179.4 | 3223.5 | +242.8 | 5101.1 | +162.2 | 3513.7 | +16.32 | 321.3 | -1.96 | 282.7 | +9.56 | 509.5 | +107.6 | 2438.4 | -1.31 | 295.5 | +80.30 | 1901.8 | +60.10 | 1503.8 |
| 3Q26 | 1.18 | +192.4 | 3441.8 | +264.7 | 5547.0 | +173.3 | 3748.0 | +17.10 | 336.6 | -1.93 | 298.7 | +9.63 | 526.2 | +113.8 | 2576.7 | -3.00 | 277.5 | +80.50 | 1921.1 | +60.40 | 1526.1 |
| 4Q26 | 1.18 | +201.0 | 3577.7 | +273.2 | 5720.7 | +178.2 | 3850.0 | +17.41 | 342.7 | -1.51 | 312.9 | +10.39 | 547.2 | +120.9 | 2723.2 | -3.59 | 272.0 | +80.40 | 1925.3 | +61.80 | 1559.6 |
| 1Q27 | 1.19 | +207.2 | 3664.5 | +284.0 | 5927.0 | +174.4 | 3769.3 | +17.10 | 336.6 | -0.90 | 317.9 | +12.50 | 582.7 | +126.7 | 2831.4 | -4.50 | 248.0 | +81.10 | 1932.1 | +64.10 | 1597.8 |
| 2025 | 1.19 | +158.8 | 2847.4 | +241.7 | 5071.0 | +154.9 | 3362.0 | +15.87 | 312.4 | -2.10 | 271.1 | +10.87 | 526.3 | +106.1 | 2400.5 | +0.20 | 316.4 | +81.10 | 1908.6 | +58.30 | 1459.7 |
| 2026 | 1.17 | +183.3 | 3249.4 | +253.6 | 5318.7 | +166.3 | 3600.4 | +16.61 | 326.9 | -1.83 | 291.0 | +10.05 | 524.8 | +112.4 | 2538.7 | -1.81 | 291.2 | +80.10 | 1904.2 | +60.40 | 1514.9 |
| 2027 | 1.18 | +221.9 | 3871.5 | +309.5 | 6422.0 | +175.2 | 3779.2 | +16.79 | 330.5 | -0.29 | 324.8 | +15.80 | 641.5 | +136.6 | 3019.7 | -9.77 | 138.2 | +81.30 | 1930.9 | +64.30 | 1596.9 |
| 2028 | 1.19 | +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 | 1.20 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| DEC25 |
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| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
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| JUN26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
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| 1Q27 |
| 2025 |
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