DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-12-05 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 | |||||||||||
| DEC25 | 1.16 | +159.7 | 2974.0 | +238.1 | 5003.7 | +156.7 | 3402.0 | +16.09 | 316.7 | -2.37 | 270.1 | +10.48 | 522.9 | +105.6 | 2394.8 | +0.04 | 317.5 | +79.70 | 1885.6 | +57.10 | 1441.6 |
| JAN26 | 1.16 | +160.7 | 2972.6 | +226.8 | 4767.6 | +149.6 | 3247.0 | +15.40 | 303.1 | -1.70 | 269.7 | +10.99 | 519.4 | +107.2 | 2414.1 | +1.02 | 323.2 | +79.00 | 1857.6 | +57.80 | 1440.9 |
| FEB26 | 1.17 | +161.2 | 2980.4 | +222.9 | 4693.4 | +151.7 | 3292.0 | +15.58 | 306.6 | -1.87 | 269.8 | +10.78 | 518.7 | +106.4 | 2400.4 | +0.71 | 320.5 | +79.20 | 1864.7 | +57.70 | 1443.0 |
| MAR26 | 1.17 | +166.2 | 3059.7 | +225.6 | 4747.7 | +152.5 | 3307.0 | +15.55 | 306.0 | -1.74 | 271.7 | +10.58 | 514.3 | +105.7 | 2387.5 | +0.46 | 315.1 | +78.80 | 1856.3 | +58.00 | 1448.1 |
| APR26 | 1.17 | +175.2 | 3207.3 | +229.2 | 4824.5 | +157.2 | 3407.0 | +15.85 | 312.0 | -1.77 | 277.2 | +10.08 | 510.4 | +105.7 | 2391.8 | -0.44 | 303.4 | +79.00 | 1867.1 | +58.50 | 1463.6 |
| MAY26 | 1.17 | +182.6 | 3328.6 | +233.6 | 4917.9 | +162.2 | 3513.0 | +16.24 | 319.7 | -1.84 | 283.5 | +9.63 | 509.2 | +107.1 | 2427.8 | -1.32 | 293.7 | +79.90 | 1892.1 | +58.90 | 1478.5 |
| JUN26 | 1.17 | +186.6 | 3387.9 | +237.1 | 4994.6 | +166.7 | 3608.0 | +16.61 | 327.0 | -1.92 | 289.3 | +9.42 | 512.4 | +108.3 | 2458.0 | -2.04 | 286.8 | +80.60 | 1914.3 | +58.80 | 1485.2 |
| 1Q26 | 1.17 | +162.7 | 2967.9 | +225.1 | 4736.2 | +151.2 | 3282.0 | +15.51 | 305.2 | -1.77 | 270.4 | +10.78 | 517.5 | +106.5 | 2400.7 | +0.73 | 319.6 | +79.00 | 1859.5 | +57.90 | 1444.0 |
| 2Q26 | 1.17 | +181.4 | 3276.4 | +233.3 | 4912.3 | +162.0 | 3509.3 | +16.23 | 319.6 | -1.84 | 283.3 | +9.71 | 510.7 | +107.0 | 2425.9 | -1.27 | 294.6 | +79.80 | 1891.2 | +58.70 | 1475.8 |
| 3Q26 | 1.17 | +193.1 | 3475.1 | +249.8 | 5255.1 | +173.0 | 3743.7 | +17.15 | 337.6 | -1.97 | 298.8 | +9.70 | 528.5 | +113.6 | 2573.1 | -2.93 | 279.9 | +79.90 | 1910.5 | +59.40 | 1507.3 |
| 4Q26 | 1.17 | +201.4 | 3606.5 | +269.6 | 5649.6 | +177.8 | 3842.3 | +17.44 | 343.3 | -1.56 | 312.6 | +10.59 | 551.8 | +121.1 | 2727.9 | -3.75 | 269.5 | +80.10 | 1920.4 | +61.40 | 1551.2 |
| 1Q27 | 1.18 | +208.7 | 3711.6 | +285.6 | 5959.1 | +174.3 | 3766.7 | +17.10 | 336.6 | -1.00 | 317.7 | +12.60 | 583.9 | +125.6 | 2809.6 | -5.10 | 235.3 | +80.60 | 1922.3 | +63.70 | 1589.7 |
| 2025 | 1.18 | +159.7 | 2881.9 | +238.1 | 5003.7 | +156.7 | 3402.0 | +16.09 | 316.7 | -2.37 | 270.1 | +10.48 | 522.9 | +105.6 | 2394.8 | +0.04 | 317.5 | +79.70 | 1885.6 | +57.10 | 1441.6 |
| 2026 | 1.16 | +184.7 | 3289.7 | +244.5 | 5138.3 | +166.0 | 3594.3 | +16.58 | 326.4 | -1.78 | 291.3 | +10.20 | 527.1 | +112.0 | 2531.9 | -1.80 | 290.9 | +79.70 | 1895.4 | +59.30 | 1494.6 |
| 2027 | 1.17 | +222.4 | 3899.4 | +380.0 | 7811.1 | +175.3 | 3780.7 | +16.79 | 330.5 | -0.29 | 324.8 | +15.82 | 641.8 | +136.2 | 3012.3 | -10.00 | 133.7 | +80.90 | 1922.7 | +64.00 | 1590.1 |
| 2028 | 1.18 | +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 | 1.15 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| DEC25 |
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| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| MAY26 |
| JUN26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2025 |
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| 2028 |
| 2029 |