DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-10-13 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 | 1.16 | +174.6 | 3252.0 | +307.2 | 6380.5 | +178.1 | 3840.0 | +16.94 | 333.5 | -2.60 | 282.3 | +9.79 | 526.2 | +110.9 | 2517.3 | -3.20 | 270.6 | +89.60 | 2096.5 | +58.20 | 1479.9 |
| NOV25 | 1.16 | +179.8 | 3322.5 | +299.0 | 6204.2 | +171.1 | 3688.0 | +16.23 | 319.5 | -1.88 | 282.5 | +10.21 | 520.5 | +112.7 | 2537.7 | -2.50 | 270.3 | +89.50 | 2082.1 | +59.10 | 1482.3 |
| DEC25 | 1.16 | +180.3 | 3332.8 | +292.8 | 6087.0 | +172.4 | 3717.0 | +16.46 | 324.1 | -2.05 | 283.7 | +10.00 | 521.0 | +112.4 | 2535.7 | -2.83 | 268.3 | +89.60 | 2088.2 | +59.00 | 1484.7 |
| JAN26 | 1.17 | +187.1 | 3426.8 | +292.7 | 6083.6 | +169.1 | 3651.0 | +16.36 | 322.0 | -1.72 | 288.1 | +9.93 | 517.5 | +112.7 | 2539.7 | -3.00 | 263.0 | +89.50 | 2083.3 | +59.50 | 1492.4 |
| FEB26 | 1.17 | +194.2 | 3554.3 | +295.9 | 6146.3 | +168.7 | 3643.0 | +16.37 | 322.3 | -1.41 | 294.5 | +9.84 | 516.0 | +113.1 | 2548.5 | -3.28 | 257.8 | +89.70 | 2087.7 | +60.30 | 1509.5 |
| MAR26 | 1.17 | +203.9 | 3704.4 | +299.6 | 6222.1 | +170.6 | 3683.0 | +16.49 | 324.6 | -1.15 | 301.9 | +9.73 | 516.2 | +113.8 | 2564.7 | -3.53 | 255.1 | +89.70 | 2090.3 | +61.00 | 1525.9 |
| APR26 | 1.17 | +216.4 | 3906.6 | +303.3 | 6299.1 | +173.6 | 3747.0 | +16.73 | 329.4 | -0.86 | 312.4 | +9.67 | 519.7 | +114.6 | 2585.6 | -3.95 | 251.7 | +89.70 | 2095.4 | +61.90 | 1548.7 |
| 1Q26 | 1.18 | +195.1 | 3526.3 | +296.1 | 6150.7 | +169.5 | 3659.0 | +16.41 | 323.0 | -1.43 | 294.8 | +9.84 | 516.6 | +113.2 | 2551.0 | -3.27 | 258.6 | +89.60 | 2087.1 | +60.30 | 1509.3 |
| 2Q26 | 1.19 | +221.4 | 3952.0 | +306.5 | 6365.7 | +175.4 | 3784.3 | +16.85 | 331.6 | -0.56 | 320.6 | +9.92 | 526.8 | +116.2 | 2619.8 | -4.30 | 246.9 | +90.00 | 2104.1 | +62.60 | 1564.2 |
| 3Q26 | 1.19 | +234.3 | 4161.4 | +324.0 | 6716.9 | +182.8 | 3938.0 | +17.27 | 340.0 | +0.06 | 341.1 | +10.62 | 549.0 | +124.1 | 2783.7 | -5.82 | 225.5 | +88.00 | 2072.4 | +62.20 | 1564.3 |
| 4Q26 | 1.19 | +241.4 | 4268.2 | +331.7 | 6873.1 | +185.3 | 3991.0 | +17.44 | 343.4 | +0.26 | 348.4 | +11.22 | 564.1 | +127.4 | 2851.1 | -6.58 | 213.9 | +87.20 | 2059.6 | +63.10 | 1584.5 |
| 1Q27 | 1.20 | +230.1 | 4069.9 | +336.3 | 6961.1 | +184.6 | 3974.7 | +17.36 | 341.8 | -0.50 | 332.8 | +13.00 | 597.3 | +131.0 | 2919.6 | -8.10 | 182.4 | +87.60 | 2065.7 | +63.40 | 1589.9 |
| 2025 | 1.20 | +178.2 | 3194.6 | +299.6 | 6223.9 | +173.9 | 3748.3 | +16.55 | 325.7 | -2.18 | 282.8 | +10.00 | 522.6 | +112.0 | 2530.2 | -2.84 | 269.7 | +89.60 | 2088.9 | +58.80 | 1482.3 |
| 2026 | 1.20 | +223.0 | 3925.9 | +314.6 | 6526.6 | +178.2 | 3843.1 | +16.99 | 334.5 | -0.42 | 326.2 | +10.40 | 539.1 | +120.2 | 2701.4 | -4.99 | 236.2 | +88.70 | 2080.8 | +62.00 | 1555.6 |
| 2027 | 1.21 | +220.0 | 3878.6 | +342.1 | 7083.4 | +190.1 | 4092.3 | +17.79 | 350.1 | -1.36 | 323.4 | +14.12 | 628.1 | +139.6 | 3097.7 | -9.53 | 162.5 | +87.40 | 2069.9 | +63.10 | 1593.1 |
| 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 | 1.21 | - | 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 |