DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-08-14 23:00:04 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 | +260.3 | 4688.9 | +400.8 | 8233.5 | +181.1 | 3907.0 | +17.43 | 343.1 | +1.11 | 364.9 | +12.17 | 582.6 | +123.1 | 2767.0 | -4.18 | 260.8 | +104.2 | 2394.9 | +66.40 | 1650.0 |
| SEP25 | 1.17 | +250.7 | 4536.5 | +392.4 | 8090.6 | +192.5 | 4156.0 | +18.63 | 366.7 | -0.45 | 357.9 | +10.92 | 581.6 | +122.7 | 2781.4 | -4.74 | 273.3 | +99.30 | 2321.9 | +64.40 | 1634.8 |
| OCT25 | 1.17 | +254.6 | 4586.2 | +392.1 | 8076.7 | +188.7 | 4073.0 | +18.22 | 358.6 | +0.06 | 359.8 | +11.26 | 580.2 | +123.3 | 2784.8 | -4.51 | 269.9 | +100.1 | 2329.4 | +65.10 | 1640.4 |
| NOV25 | 1.18 | +255.6 | 4581.1 | +391.1 | 8058.7 | +190.0 | 4100.0 | +18.32 | 360.7 | -0.13 | 358.2 | +10.91 | 575.4 | +124.6 | 2812.6 | -4.58 | 270.6 | +97.50 | 2280.2 | +64.90 | 1638.5 |
| DEC25 | 1.17 | +257.7 | 4624.2 | +390.3 | 8040.4 | +188.3 | 4066.0 | +18.21 | 358.5 | +0.03 | 359.0 | +10.82 | 571.4 | +126.2 | 2842.8 | -4.80 | 264.1 | +96.60 | 2259.5 | +65.30 | 1644.6 |
| JAN26 | 1.19 | +257.2 | 4572.2 | +386.0 | 7954.7 | +186.1 | 4020.0 | +18.11 | 356.4 | +0.23 | 361.0 | +10.84 | 569.7 | +127.9 | 2873.1 | -5.17 | 254.7 | +96.40 | 2253.8 | +66.40 | 1664.1 |
| FEB26 | 1.19 | +257.3 | 4556.7 | +385.8 | 7946.7 | +184.3 | 3980.0 | +17.92 | 352.8 | +0.53 | 363.2 | +11.01 | 569.6 | +130.0 | 2912.4 | -5.37 | 247.0 | +96.50 | 2252.1 | +68.00 | 1690.8 |
| 4Q25 | 1.19 | +256.0 | 4533.9 | +391.1 | 8058.6 | +189.0 | 4079.7 | +18.25 | 359.3 | -0.01 | 359.0 | +10.99 | 575.7 | +124.7 | 2813.4 | -4.63 | 268.2 | +98.10 | 2289.7 | +65.10 | 1641.2 |
| 1Q26 | 1.20 | +257.8 | 4529.7 | +386.1 | 7954.5 | +184.9 | 3993.3 | +17.96 | 353.6 | +0.47 | 362.9 | +10.99 | 569.9 | +129.8 | 2909.4 | -5.34 | 248.5 | +96.60 | 2255.4 | +67.80 | 1689.1 |
| 2Q26 | 1.20 | +264.6 | 4626.2 | +384.5 | 7921.7 | +185.6 | 4005.7 | +17.90 | 352.4 | +1.03 | 372.7 | +11.35 | 575.8 | +133.8 | 2987.0 | -5.84 | 237.4 | +99.20 | 2305.5 | +70.60 | 1742.3 |
| 3Q26 | 1.21 | +273.0 | 4750.3 | +395.1 | 8133.2 | +188.9 | 4073.0 | +18.06 | 355.6 | +1.32 | 381.5 | +11.76 | 587.0 | +138.0 | 3072.1 | -6.67 | 224.4 | +97.50 | 2275.5 | +71.70 | 1767.7 |
| 4Q26 | 1.21 | +277.7 | 4815.1 | +398.5 | 8203.5 | +190.4 | 4107.0 | +18.23 | 358.8 | +1.30 | 384.6 | +12.00 | 595.1 | +141.4 | 3142.9 | -7.30 | 214.9 | +96.90 | 2266.7 | +70.30 | 1742.3 |
| 2025 | 1.21 | +255.8 | 4444.2 | +393.3 | 8100.0 | +188.1 | 4060.4 | +18.16 | 357.5 | +0.12 | 360.0 | +11.21 | 578.2 | +124.0 | 2797.7 | -4.56 | 267.7 | +99.60 | 2317.2 | +65.20 | 1641.7 |
| 2026 | 1.22 | +268.3 | 4631.7 | +391.1 | 8053.2 | +187.4 | 4044.8 | +18.04 | 355.1 | +1.03 | 375.5 | +11.53 | 582.0 | +135.8 | 3027.9 | -6.29 | 231.3 | +97.60 | 2275.8 | +70.10 | 1735.4 |
| 2027 | 1.22 | +220.6 | 3815.1 | +385.3 | 7898.2 | +188.7 | 4029.9 | +15.99 | 314.7 | +0.26 | 319.9 | +18.56 | 680.1 | +143.7 | 3142.5 | -7.28 | 171.5 | +99.50 | 2273.5 | +72.70 | 1745.1 |
| 2028 | 1.22 | +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 | 1.23 | - | 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 |