DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-01-20 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 | +143.2 | 2648.2 | +239.8 | 5011.4 | +142.7 | 3100.0 | +14.75 | 290.3 | -1.35 | 263.8 | +12.50 | 536.4 | +108.9 | 2433.6 | +1.64 | 322.5 | +85.70 | 1976.4 | +63.40 | 1538.5 |
| FEB26 | 1.18 | +147.1 | 2715.7 | +226.9 | 4761.4 | +147.6 | 3201.0 | +15.03 | 295.9 | -1.17 | 272.8 | +12.74 | 546.6 | +112.5 | 2510.0 | +0.64 | 308.4 | +87.00 | 2007.6 | +64.90 | 1573.6 |
| MAR26 | 1.18 | +151.0 | 2777.3 | +223.9 | 4702.0 | +147.3 | 3194.0 | +14.99 | 295.0 | -1.09 | 273.5 | +12.57 | 542.5 | +112.1 | 2502.3 | +0.61 | 307.1 | +86.40 | 1996.3 | +64.70 | 1568.4 |
| APR26 | 1.17 | +163.7 | 3021.3 | +226.6 | 4760.2 | +152.0 | 3292.0 | +15.24 | 299.9 | -0.87 | 282.7 | +12.25 | 541.0 | +114.4 | 2551.2 | -0.45 | 291.0 | +86.30 | 1999.4 | +65.30 | 1585.4 |
| MAY26 | 1.18 | +172.2 | 3132.5 | +228.8 | 4812.0 | +157.3 | 3404.0 | +15.63 | 307.6 | -1.03 | 287.4 | +11.62 | 536.3 | +115.4 | 2579.5 | -1.32 | 281.7 | +86.60 | 2013.0 | +65.50 | 1597.0 |
| JUN26 | 1.18 | +176.4 | 3200.1 | +230.9 | 4864.7 | +163.6 | 3540.0 | +16.19 | 318.7 | -1.42 | 290.8 | +11.06 | 536.4 | +116.5 | 2611.1 | -2.13 | 276.7 | +87.00 | 2032.1 | +65.20 | 1602.8 |
| JUL26 | 1.19 | +180.2 | 3269.5 | +238.3 | 5021.3 | +169.3 | 3662.0 | +16.74 | 329.6 | -1.73 | 295.5 | +10.79 | 542.0 | +118.9 | 2669.5 | -2.82 | 274.0 | +86.30 | 2027.9 | +64.40 | 1597.4 |
| 2Q26 | 1.18 | +170.8 | 3110.7 | +228.8 | 4812.3 | +157.7 | 3412.0 | +15.68 | 308.7 | -1.11 | 287.0 | +11.64 | 537.9 | +115.4 | 2580.6 | -1.30 | 283.1 | +86.70 | 2014.8 | +65.30 | 1595.1 |
| 3Q26 | 1.18 | +183.8 | 3342.2 | +243.3 | 5125.7 | +173.2 | 3746.3 | +17.13 | 337.2 | -1.83 | 301.1 | +10.77 | 549.2 | +119.3 | 2685.5 | -3.15 | 275.1 | +84.10 | 1993.4 | +64.10 | 1599.8 |
| 4Q26 | 1.19 | +191.8 | 3471.6 | +261.1 | 5486.9 | +178.2 | 3855.3 | +17.63 | 347.0 | -1.61 | 315.4 | +11.15 | 566.6 | +123.5 | 2777.4 | -3.65 | 275.2 | +81.10 | 1943.2 | +64.70 | 1620.2 |
| 1Q27 | 1.19 | +198.7 | 3565.1 | +267.5 | 5598.3 | +172.7 | 3732.7 | +16.95 | 333.6 | -0.78 | 318.3 | +12.75 | 584.6 | +130.2 | 2897.5 | -4.32 | 248.5 | +81.90 | 1946.3 | +65.70 | 1626.7 |
| 2Q27 | 1.19 | +209.6 | 3734.4 | +268.6 | 5621.7 | +174.7 | 3773.3 | +17.02 | 335.0 | -0.90 | 317.9 | +14.30 | 616.7 | +134.0 | 2972.8 | -7.30 | 190.6 | +81.80 | 1945.8 | +65.50 | 1625.2 |
| 2026 | 1.20 | +173.4 | 3116.7 | +240.8 | 5062.5 | +163.7 | 3544.7 | +16.34 | 321.7 | -1.44 | 293.4 | +11.54 | 548.9 | +117.3 | 2631.4 | -1.79 | 286.5 | +84.60 | 1986.2 | +64.60 | 1593.8 |
| 2027 | 1.20 | +215.2 | 3806.2 | +265.2 | 5559.1 | +197.3 | 4222.3 | +17.18 | 338.1 | -0.85 | 321.3 | +16.18 | 656.7 | +133.4 | 2965.0 | -7.78 | 185.1 | +78.10 | 1874.6 | +60.80 | 1534.4 |
| 2028 | 1.21 | +242.2 | 4246.0 | +211.0 | 4504.4 | +313.8 | 6528.5 | +17.86 | 351.6 | -0.85 | 334.9 | +26.55 | 874.2 | +110.2 | 2520.3 | -11.43 | 126.7 | +62.30 | 1577.3 | +40.80 | 1154.6 |
| 2029 | 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 |
| 2030 | 1.21 | - | 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 |
| 2027 |
| 2028 |
| 2029 |
| 2030 |