DAIRY PRODUCTS in EUR/mT

Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..

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last update: 2026-01-03 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 +152.1 2805.7 +244.8 5118.7 +146.8 3190.0 +15.25 300.2 -1.48 271.1 +11.65 529.6 +104.0 2347.5 +1.12 322.2 +77.10 1817.4 +58.40 1450.5
FEB26 1.17 +154.8 2851.1 +232.3 4878.5 +151.8 3294.0 +15.51 305.3 -1.64 273.0 +11.39 529.6 +107.2 2415.8 +0.47 314.6 +78.20 1844.8 +59.50 1475.8
MAR26 1.17 +157.7 2895.7 +235.3 4937.2 +151.6 3289.0 +15.50 305.1 -1.54 274.8 +11.39 529.3 +106.9 2410.2 +0.35 312.0 +78.10 1842.6 +59.30 1472.5
APR26 1.17 +167.8 3063.4 +239.9 5033.8 +156.6 3393.0 +15.80 311.1 -1.54 280.8 +11.03 528.2 +109.0 2456.7 -0.55 300.2 +78.80 1861.9 +59.90 1490.5
MAY26 1.18 +175.9 3200.1 +244.4 5130.8 +161.2 3493.0 +16.21 319.0 -1.69 285.7 +10.58 527.3 +109.5 2474.3 -1.28 293.8 +79.40 1882.3 +60.40 1508.8
JUN26 1.19 +181.1 3280.8 +248.4 5217.2 +166.2 3599.0 +16.67 328.1 -1.91 290.5 +10.25 529.8 +109.3 2480.2 -1.94 289.9 +79.70 1896.3 +60.40 1517.0
JUL26 1.18 +185.6 3350.4 +262.4 5501.3 +170.6 3695.0 +17.08 336.3 -2.05 295.9 +10.12 535.5 +110.7 2515.7 -2.51 286.8 +78.80 1888.2 +60.60 1528.5
2Q26 1.18 +174.9 3151.5 +244.3 5127.3 +161.3 3495.0 +16.23 319.4 -1.71 285.7 +10.62 528.4 +109.3 2470.4 -1.26 294.6 +79.30 1880.2 +60.30 1505.4
3Q26 1.18 +189.5 3401.6 +265.4 5565.7 +174.0 3767.0 +17.36 341.8 -2.08 300.7 +10.15 541.6 +113.3 2571.2 -2.83 286.0 +77.20 1861.5 +61.20 1546.0
4Q26 1.18 +199.7 3564.3 +272.0 5701.0 +178.5 3862.0 +17.65 347.5 -1.75 313.1 +10.74 559.0 +119.9 2708.3 -3.23 283.8 +77.30 1868.5 +62.20 1572.4
1Q27 1.18 +204.6 3624.0 +282.3 5893.3 +174.4 3768.0 +17.07 336.0 -0.94 317.4 +12.58 583.6 +126.6 2827.8 -4.27 251.9 +80.10 1913.5 +63.40 1584.5
2Q27 1.19 +213.7 3765.2 +282.1 5891.2 +176.1 3804.3 +17.14 337.3 -1.00 317.9 +14.30 618.8 +131.3 2921.9 -7.50 190.6 +80.10 1914.6 +63.50 1586.3
2026 1.19 +179.8 3194.2 +254.8 5343.0 +166.0 3595.4 +16.67 328.1 -1.77 293.1 +10.75 539.6 +112.1 2535.3 -1.67 295.2 +77.90 1861.3 +60.70 1522.5
2027 1.18 +217.6 3810.3 +281.6 5884.7 +198.2 4244.7 +17.40 342.5 -1.09 321.1 +15.97 657.0 +131.1 2923.9 -8.13 182.6 +79.80 1914.3 +63.20 1585.8
2028 1.19 +241.3 4205.6 +276.6 5811.6 +314.1 6551.3 +18.69 367.9 -1.67 334.9 +25.73 874.2 +130.7 2941.0 -11.68 137.9 +78.60 1914.6 +61.90 1586.3
2029 1.27 +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 1.45 - 4461.1 - 10628 - 3794.6 - 349.7 - 372.3 - 2939.9 - - - 835.3 - - - -
 
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1Q27
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