DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-10-15 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 | |||||||||||
| OCT25 | 1.17 | +176.6 | 3270.0 | +307.8 | 6392.9 | +178.1 | 3840.0 | +16.97 | 334.0 | -2.72 | 280.5 | +9.65 | 523.9 | +111.6 | 2530.8 | -3.25 | 270.1 | +89.20 | 2089.5 | +57.50 | 1465.5 |
| NOV25 | 1.17 | +182.5 | 3352.4 | +293.5 | 6097.6 | +171.4 | 3693.0 | +16.25 | 319.9 | -1.97 | 281.1 | +9.85 | 513.7 | +108.2 | 2450.7 | -2.71 | 266.5 | +88.50 | 2061.5 | +57.70 | 1454.9 |
| DEC25 | 1.17 | +182.8 | 3353.8 | +279.4 | 5824.1 | +172.5 | 3721.0 | +16.49 | 324.6 | -2.12 | 282.8 | +9.65 | 514.6 | +109.2 | 2473.6 | -2.99 | 265.7 | +88.70 | 2071.4 | +57.70 | 1460.9 |
| JAN26 | 1.17 | +189.6 | 3459.6 | +279.5 | 5824.8 | +169.3 | 3654.0 | +16.37 | 322.3 | -1.77 | 287.5 | +9.39 | 507.2 | +108.2 | 2451.3 | -3.12 | 260.8 | +88.50 | 2064.0 | +58.20 | 1467.3 |
| FEB26 | 1.17 | +196.6 | 3574.6 | +285.2 | 5935.3 | +168.4 | 3636.0 | +16.36 | 322.1 | -1.45 | 293.6 | +9.18 | 502.8 | +108.8 | 2463.3 | -3.32 | 256.8 | +88.80 | 2070.0 | +59.30 | 1489.7 |
| MAR26 | 1.18 | +205.1 | 3702.5 | +295.5 | 6141.1 | +170.1 | 3672.0 | +16.44 | 323.6 | -1.11 | 301.8 | +9.16 | 503.9 | +110.9 | 2505.7 | -3.53 | 254.1 | +89.00 | 2074.7 | +60.20 | 1509.3 |
| APR26 | 1.18 | +216.3 | 3883.1 | +291.6 | 6067.4 | +173.2 | 3738.0 | +16.66 | 327.9 | -0.77 | 312.7 | +9.30 | 511.0 | +114.2 | 2575.8 | -3.91 | 250.9 | +89.20 | 2083.5 | +61.10 | 1530.8 |
| 1Q26 | 1.18 | +197.1 | 3546.1 | +286.7 | 5967.1 | +169.2 | 3654.0 | +16.39 | 322.7 | -1.44 | 294.3 | +9.24 | 504.6 | +109.3 | 2473.4 | -3.32 | 257.2 | +88.70 | 2069.6 | +59.20 | 1488.8 |
| 2Q26 | 1.19 | +223.5 | 3988.4 | +295.5 | 6146.8 | +175.2 | 3780.3 | +16.81 | 330.8 | -0.51 | 320.7 | +9.66 | 520.9 | +116.4 | 2622.6 | -4.28 | 246.6 | +89.50 | 2093.5 | +61.90 | 1548.6 |
| 3Q26 | 1.19 | +238.8 | 4237.7 | +326.0 | 6757.0 | +182.6 | 3934.7 | +17.29 | 340.4 | -0.01 | 340.3 | +10.41 | 545.4 | +123.1 | 2763.9 | -5.82 | 225.8 | +87.40 | 2061.2 | +62.00 | 1560.8 |
| 4Q26 | 1.19 | +243.6 | 4307.5 | +331.3 | 6865.6 | +185.3 | 3992.3 | +17.48 | 344.1 | +0.17 | 347.5 | +11.08 | 562.3 | +127.5 | 2853.6 | -6.58 | 214.7 | +86.90 | 2055.3 | +62.90 | 1582.4 |
| 1Q27 | 1.20 | +230.4 | 4077.8 | +335.7 | 6950.1 | +184.6 | 3976.7 | +17.39 | 342.4 | -0.50 | 332.8 | +12.70 | 592.0 | +131.2 | 2924.4 | -8.10 | 182.4 | +87.40 | 2063.3 | +63.30 | 1588.0 |
| 2025 | 1.20 | +180.6 | 3235.6 | +293.6 | 6104.9 | +174.0 | 3751.3 | +16.57 | 326.2 | -2.27 | 281.5 | +9.71 | 517.4 | +109.7 | 2485.0 | -2.98 | 267.4 | +88.80 | 2074.1 | +57.60 | 1460.4 |
| 2026 | 1.20 | +225.7 | 3970.6 | +309.9 | 6434.1 | +178.1 | 3840.3 | +16.99 | 334.5 | -0.45 | 325.7 | +10.10 | 533.3 | +119.1 | 2678.4 | -5.00 | 236.1 | +88.20 | 2069.9 | +61.50 | 1545.2 |
| 2027 | 1.21 | +220.5 | 3880.3 | +337.7 | 6990.4 | +190.5 | 4092.8 | +17.38 | 342.2 | -0.95 | 323.4 | +15.33 | 644.0 | +137.6 | 3051.7 | -9.13 | 162.5 | +87.70 | 2067.7 | +63.50 | 1591.5 |
| 2028 | 1.21 | +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 | 1.21 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| OCT25 |
|---|
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |