DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-01-26 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 | |||||||||||
| SPOT | 1.19 | +146.0 | 2669.4 | +234.9 | 4912.6 | +142.6 | 3097.0 | +14.70 | 289.4 | -1.15 | 266.7 | +12.83 | 542.0 | +111.6 | 2485.9 | +1.65 | 321.9 | +90.70 | 2074.6 | +68.80 | 1644.4 |
| JAN26 | 1.19 | +166.6 | 3018.9 | +226.0 | 4750.8 | +149.7 | 3250.0 | +15.36 | 302.4 | -0.21 | 298.2 | +14.25 | 582.9 | +117.5 | 2614.4 | +0.13 | 305.0 | +92.40 | 2121.5 | +72.70 | 1734.0 |
| FEB26 | 1.19 | +166.7 | 3009.4 | +225.9 | 4746.8 | +149.5 | 3243.0 | +15.27 | 300.6 | -0.33 | 294.2 | +13.77 | 571.7 | +117.3 | 2608.9 | +0.23 | 305.2 | +92.50 | 2121.4 | +72.20 | 1721.8 |
| MAR26 | 1.19 | +185.5 | 3336.0 | +227.8 | 4793.8 | +155.9 | 3378.0 | +15.71 | 309.3 | +0.18 | 312.9 | +13.83 | 581.6 | +121.7 | 2704.1 | -1.02 | 289.3 | +92.20 | 2123.7 | +71.30 | 1711.9 |
| APR26 | 1.19 | +194.7 | 3479.5 | +229.3 | 4829.1 | +160.7 | 3479.0 | +16.03 | 315.5 | +0.15 | 318.4 | +13.40 | 579.2 | +123.2 | 2740.7 | -1.84 | 279.3 | +93.00 | 2147.1 | +71.40 | 1720.6 |
| MAY26 | 1.19 | +198.4 | 3528.7 | +229.8 | 4846.2 | +165.4 | 3579.0 | +16.41 | 323.1 | -0.17 | 319.8 | +12.99 | 578.8 | +123.4 | 2751.3 | -2.47 | 274.4 | +93.40 | 2161.6 | +71.30 | 1727.3 |
| JUN26 | 1.19 | +201.9 | 3576.3 | +242.1 | 5096.7 | +170.1 | 3680.0 | +16.84 | 331.5 | -0.39 | 323.9 | +12.71 | 581.6 | +124.4 | 2780.6 | -2.96 | 273.3 | +92.20 | 2146.5 | +70.90 | 1726.3 |
| JUL26 | 1.20 | +192.9 | 3422.3 | +229.0 | 4823.0 | +160.7 | 3478.7 | +16.05 | 316.0 | +0.05 | 317.0 | +13.41 | 579.9 | +122.7 | 2732.0 | -1.78 | 281.0 | +92.90 | 2144.1 | +71.30 | 1719.9 |
| 2Q26 | 1.19 | +205.7 | 3638.9 | +247.1 | 5201.8 | +173.6 | 3755.3 | +17.15 | 337.6 | -0.41 | 329.6 | +12.64 | 586.5 | +125.9 | 2815.3 | -3.28 | 273.0 | +90.00 | 2108.4 | +69.40 | 1704.4 |
| 3Q26 | 1.20 | +213.2 | 3757.3 | +263.2 | 5527.7 | +178.7 | 3864.0 | +17.60 | 346.4 | -0.36 | 339.3 | +12.68 | 596.0 | +131.0 | 2924.2 | -3.65 | 274.5 | +86.70 | 2052.5 | +68.20 | 1689.0 |
| 4Q26 | 1.20 | +205.2 | 3606.7 | +271.0 | 5669.3 | +172.9 | 3737.3 | +16.98 | 334.2 | -0.47 | 325.1 | +13.38 | 597.6 | +135.4 | 2999.1 | -4.32 | 249.3 | +85.60 | 2018.7 | +70.50 | 1721.2 |
| 1Q27 | 1.20 | +209.6 | 3667.1 | +272.8 | 5704.6 | +174.7 | 3774.0 | +17.02 | 335.1 | -0.90 | 317.9 | +14.30 | 616.7 | +136.3 | 3019.0 | -7.30 | 190.6 | +85.00 | 2007.5 | +70.80 | 1728.3 |
| 2Q27 | 1.20 | +192.9 | 3377.5 | +242.1 | 5089.0 | +165.1 | 3573.7 | +16.48 | 324.4 | -0.32 | 318.1 | +13.09 | 582.0 | +123.8 | 2760.3 | -2.01 | 284.8 | +90.30 | 2102.7 | +70.10 | 1703.4 |
| 2026 | 1.19 | +216.9 | 3764.1 | +268.7 | 5626.7 | +196.3 | 4201.5 | +17.19 | 338.3 | -0.78 | 323.0 | +16.34 | 659.9 | +136.1 | 3017.7 | -7.78 | 185.2 | +84.50 | 2000.9 | +61.40 | 1546.0 |
| 2027 | 1.22 | +242.2 | 4169.9 | +207.5 | 4435.1 | +306.8 | 6391.5 | +17.86 | 351.6 | -0.85 | 334.9 | +26.55 | 874.2 | +108.2 | 2481.2 | -11.43 | 126.7 | +84.20 | 2008.4 | +13.20 | 610.7 |
| 2028 | 1.40 | +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 | 1.81 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| SPOT |
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| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| MAY26 |
| JUN26 |
| JUL26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |