DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-02-28 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 | 1.18 | +211.0 | 3789.3 | +257.0 | 5384.1 | +162.8 | 3530.0 | +16.51 | 325.0 | +3.16 | 387.2 | +20.35 | 725.6 | +142.9 | 3137.8 | -1.02 | 305.0 | +101.5 | 2322.5 | +87.90 | 2055.9 |
| FEB26 | 1.18 | +204.7 | 3677.8 | +264.2 | 5522.7 | +161.0 | 3491.0 | +16.34 | 321.7 | +2.52 | 371.3 | +19.05 | 696.7 | +141.6 | 3109.2 | -0.85 | 305.0 | +101.0 | 2309.8 | +86.80 | 2030.5 |
| MAR26 | 1.18 | +223.6 | 4004.8 | +266.1 | 5577.3 | +171.0 | 3706.0 | +17.25 | 339.6 | +2.55 | 389.8 | +18.90 | 711.6 | +139.2 | 3079.6 | -2.17 | 296.8 | +99.40 | 2296.6 | +84.60 | 2004.2 |
| APR26 | 1.18 | +230.4 | 4116.5 | +269.4 | 5652.6 | +176.7 | 3827.0 | +17.76 | 349.5 | +1.98 | 388.5 | +17.52 | 694.4 | +141.0 | 3124.4 | -3.08 | 288.9 | +99.90 | 2315.9 | +85.10 | 2025.3 |
| MAY26 | 1.18 | +233.1 | 4165.3 | +286.7 | 5998.6 | +179.3 | 3886.0 | +18.07 | 355.7 | +1.51 | 385.4 | +16.45 | 679.5 | +142.7 | 3164.5 | -3.57 | 285.5 | +99.30 | 2309.8 | +83.60 | 2002.2 |
| JUN26 | 1.19 | +234.6 | 4182.2 | +287.8 | 6024.3 | +180.6 | 3914.0 | +18.22 | 358.7 | +1.24 | 383.1 | +15.70 | 667.8 | +144.6 | 3204.5 | -3.67 | 286.5 | +97.80 | 2282.9 | +81.40 | 1961.5 |
| JUL26 | 1.19 | +235.7 | 4179.9 | +290.9 | 6085.8 | +181.5 | 3933.0 | +18.26 | 359.4 | +1.17 | 382.4 | +15.21 | 658.7 | +145.8 | 3229.9 | -3.60 | 288.5 | +96.10 | 2250.5 | +79.80 | 1929.8 |
| AUG26 | 1.19 | +219.6 | 3888.2 | +266.6 | 5584.2 | +169.6 | 3674.7 | +17.12 | 336.9 | +2.35 | 383.2 | +18.49 | 700.9 | +140.6 | 3104.4 | -2.03 | 296.9 | +100.1 | 2307.4 | +85.50 | 2020.0 |
| 2Q26 | 1.18 | +234.5 | 4138.5 | +288.5 | 6036.2 | +180.5 | 3911.0 | +18.18 | 357.9 | +1.31 | 383.6 | +15.79 | 668.7 | +144.4 | 3199.6 | -3.61 | 286.8 | +97.70 | 2281.1 | +81.60 | 1964.5 |
| 3Q26 | 1.19 | +236.5 | 4159.6 | +298.3 | 6228.7 | +181.6 | 3932.7 | +18.17 | 357.7 | +1.04 | 378.2 | +14.87 | 650.4 | +148.4 | 3278.4 | -3.49 | 289.0 | +93.90 | 2205.2 | +79.80 | 1929.0 |
| 4Q26 | 1.19 | +223.9 | 3929.7 | +300.3 | 6252.5 | +175.7 | 3800.3 | +17.35 | 341.4 | +1.02 | 361.6 | +15.35 | 643.6 | +150.7 | 3307.5 | -4.34 | 256.0 | +94.30 | 2198.0 | +82.80 | 1972.1 |
| 1Q27 | 1.20 | +217.7 | 3815.3 | +303.2 | 6307.8 | +175.6 | 3796.3 | +17.21 | 338.8 | +0.70 | 353.6 | +14.70 | 627.9 | +149.8 | 3287.6 | -6.30 | 214.0 | +93.80 | 2185.1 | +83.80 | 1988.5 |
| 2Q27 | 1.20 | +222.8 | 3892.1 | +278.9 | 5832.5 | +173.0 | 3749.5 | +17.44 | 343.3 | +1.67 | 376.3 | +16.75 | 673.1 | +143.1 | 3160.5 | -2.49 | 294.2 | +97.50 | 2262.7 | +82.40 | 1964.8 |
| 2026 | 1.19 | +222.3 | 3871.4 | +300.0 | 6247.4 | +181.4 | 3911.8 | +17.38 | 342.0 | +0.14 | 344.8 | +16.27 | 662.3 | +150.8 | 3309.7 | -6.54 | 213.3 | +91.30 | 2138.6 | +77.90 | 1874.6 |
| 2027 | 1.20 | +231.8 | 4015.5 | +258.1 | 5425.0 | +209.5 | 4468.2 | +17.50 | 344.5 | +0.30 | 350.4 | +21.50 | 767.8 | +133.8 | 2977.7 | -7.82 | 190.5 | +77.80 | 1876.6 | +52.80 | 1384.8 |
| 2028 | 1.23 | +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 | 1.32 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| SPOT |
|---|
| FEB26 |
| MAR26 |
| APR26 |
| MAY26 |
| JUN26 |
| JUL26 |
| AUG26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |