DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-01-13 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 | |||||||||||
| JAN26 | 1.17 | +142.7 | 2657.2 | +238.7 | 4988.7 | +143.3 | 3111.0 | +14.78 | 290.9 | -1.29 | 265.5 | +12.64 | 539.7 | +110.1 | 2457.6 | +1.49 | 320.3 | +84.60 | 1956.0 | +62.60 | 1522.6 |
| FEB26 | 1.17 | +148.5 | 2754.6 | +231.3 | 4849.3 | +149.4 | 3236.0 | +15.04 | 296.1 | -1.08 | 274.8 | +13.29 | 557.8 | +110.1 | 2463.2 | +0.24 | 300.8 | +85.20 | 1974.1 | +63.20 | 1539.3 |
| MAR26 | 1.17 | +151.5 | 2800.9 | +235.8 | 4936.6 | +148.9 | 3226.0 | +15.01 | 295.5 | -1.00 | 275.8 | +13.07 | 552.8 | +111.6 | 2493.0 | +0.28 | 301.1 | +85.30 | 1975.5 | +63.30 | 1541.3 |
| APR26 | 1.17 | +163.9 | 3009.5 | +240.3 | 5031.6 | +154.3 | 3339.0 | +15.30 | 301.1 | -0.76 | 286.2 | +12.97 | 556.4 | +114.6 | 2557.2 | -0.77 | 286.0 | +86.00 | 1994.9 | +64.00 | 1560.8 |
| MAY26 | 1.18 | +172.2 | 3147.8 | +244.1 | 5114.1 | +159.5 | 3449.0 | +15.72 | 309.5 | -0.89 | 291.9 | +12.42 | 553.9 | +116.2 | 2596.1 | -1.41 | 281.8 | +86.80 | 2017.8 | +64.50 | 1578.6 |
| JUN26 | 1.18 | +176.6 | 3217.0 | +247.9 | 5200.4 | +165.1 | 3569.0 | +16.26 | 320.0 | -1.18 | 296.7 | +11.90 | 554.2 | +117.0 | 2623.4 | -2.03 | 280.1 | +87.00 | 2032.7 | +64.60 | 1591.1 |
| JUL26 | 1.18 | +180.8 | 3287.5 | +249.2 | 5235.8 | +170.2 | 3681.0 | +16.75 | 329.8 | -1.38 | 302.6 | +11.62 | 558.5 | +118.7 | 2666.9 | -2.65 | 277.6 | +86.10 | 2023.9 | +64.50 | 1599.0 |
| 2Q26 | 1.19 | +170.9 | 3093.8 | +244.1 | 5115.4 | +159.6 | 3452.3 | +15.76 | 310.2 | -0.94 | 291.6 | +12.43 | 554.8 | +115.9 | 2592.2 | -1.40 | 282.6 | +86.60 | 2015.1 | +64.30 | 1576.8 |
| 3Q26 | 1.19 | +184.4 | 3331.8 | +255.5 | 5366.9 | +174.2 | 3767.7 | +17.16 | 337.7 | -1.55 | 307.3 | +11.51 | 564.3 | +119.5 | 2689.3 | -2.98 | 279.1 | +84.60 | 2002.7 | +64.20 | 1602.3 |
| 4Q26 | 1.19 | +192.6 | 3465.8 | +271.4 | 5689.5 | +179.2 | 3875.7 | +17.69 | 348.1 | -1.48 | 319.0 | +11.62 | 576.8 | +123.1 | 2771.8 | -3.59 | 277.4 | +81.70 | 1955.7 | +64.70 | 1622.0 |
| 1Q27 | 1.20 | +200.7 | 3577.6 | +271.5 | 5679.2 | +174.7 | 3775.3 | +17.05 | 335.6 | -0.83 | 319.2 | +12.81 | 587.8 | +130.5 | 2905.0 | -4.41 | 248.8 | +81.30 | 1936.7 | +65.80 | 1630.7 |
| 2Q27 | 1.20 | +211.6 | 3746.1 | +271.9 | 5687.3 | +176.2 | 3804.3 | +17.03 | 335.2 | -0.90 | 317.9 | +14.30 | 616.7 | +135.0 | 2991.8 | -7.30 | 190.6 | +80.60 | 1921.1 | +65.70 | 1629.1 |
| 2026 | 1.21 | +173.9 | 3108.0 | +251.6 | 5274.2 | +165.1 | 3571.7 | +16.39 | 322.6 | -1.27 | 297.5 | +12.14 | 561.5 | +117.3 | 2631.2 | -1.82 | 286.6 | +84.50 | 1985.5 | +64.10 | 1583.9 |
| 2027 | 1.21 | +216.2 | 3801.8 | +273.0 | 5712.2 | +198.5 | 4246.5 | +17.20 | 338.7 | -0.87 | 321.6 | +16.20 | 657.5 | +138.4 | 3063.6 | -7.97 | 181.8 | +80.60 | 1925.8 | +60.90 | 1538.1 |
| 2028 | 1.21 | +242.2 | 4223.1 | +286.7 | 5995.7 | +315.0 | 6551.3 | +17.86 | 351.6 | -0.85 | 334.9 | +26.55 | 874.2 | +162.0 | 3541.0 | -10.86 | 137.9 | +79.90 | 1924.6 | +40.90 | 1157.4 |
| 2029 | 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 |
| 2030 | 1.22 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| JAN26 |
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| APR26 |
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| JUN26 |
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| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
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| 2029 |
| 2030 |