DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-09-21 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 | |||||||||||
| SEP25 | 1.18 | +219.8 | 3974.4 | +349.4 | 7224.7 | +185.5 | 3999.0 | +17.68 | 348.0 | -0.78 | 332.7 | +11.30 | 570.4 | +116.3 | 2637.6 | -4.42 | 261.0 | +90.70 | 2134.1 | +61.20 | 1551.9 |
| OCT25 | 1.18 | +208.6 | 3772.7 | +314.0 | 6527.2 | +183.4 | 3957.0 | +17.62 | 346.8 | -1.84 | 310.6 | +9.45 | 532.9 | +116.7 | 2644.0 | -3.73 | 273.3 | +90.70 | 2132.1 | +59.70 | 1521.4 |
| NOV25 | 1.18 | +212.7 | 3839.3 | +309.3 | 6433.2 | +183.0 | 3947.0 | +17.54 | 345.3 | -1.49 | 316.0 | +9.93 | 540.7 | +116.8 | 2645.2 | -3.89 | 268.7 | +90.80 | 2132.6 | +60.10 | 1527.9 |
| DEC25 | 1.19 | +213.5 | 3829.2 | +315.2 | 6545.5 | +180.2 | 3889.0 | +17.36 | 341.8 | -1.49 | 312.5 | +9.52 | 529.1 | +116.8 | 2640.9 | -3.93 | 264.4 | +91.00 | 2133.6 | +60.60 | 1535.0 |
| JAN26 | 1.19 | +216.8 | 3883.2 | +316.0 | 6560.0 | +177.7 | 3837.0 | +17.22 | 339.0 | -1.16 | 316.2 | +9.59 | 527.7 | +117.9 | 2659.2 | -4.36 | 253.2 | +91.10 | 2132.4 | +61.20 | 1543.5 |
| FEB26 | 1.19 | +218.6 | 3895.0 | +317.6 | 6586.5 | +176.0 | 3801.0 | +17.05 | 335.7 | -0.80 | 319.9 | +9.80 | 528.7 | +119.7 | 2691.3 | -4.60 | 245.1 | +91.70 | 2140.0 | +62.40 | 1563.3 |
| MAR26 | 1.20 | +222.3 | 3942.3 | +318.3 | 6600.4 | +176.5 | 3809.0 | +17.00 | 334.7 | -0.50 | 324.8 | +9.99 | 531.3 | +120.1 | 2699.3 | -4.79 | 240.5 | +92.10 | 2147.6 | +62.90 | 1573.5 |
| 4Q25 | 1.20 | +211.6 | 3753.0 | +312.8 | 6502.0 | +182.2 | 3931.0 | +17.51 | 344.6 | -1.61 | 313.0 | +9.63 | 534.2 | +116.8 | 2643.4 | -3.85 | 268.8 | +90.80 | 2132.8 | +60.10 | 1528.1 |
| 1Q26 | 1.21 | +219.2 | 3857.9 | +317.3 | 6582.3 | +176.8 | 3815.7 | +17.09 | 336.5 | -0.82 | 320.3 | +9.79 | 529.2 | +119.2 | 2683.3 | -4.58 | 246.3 | +91.60 | 2140.0 | +62.20 | 1560.1 |
| 2Q26 | 1.21 | +234.7 | 4098.8 | +316.7 | 6571.4 | +179.8 | 3876.0 | +17.14 | 337.4 | -0.13 | 334.9 | +10.20 | 538.1 | +122.7 | 2753.0 | -5.63 | 226.6 | +92.70 | 2161.3 | +64.30 | 1602.4 |
| 3Q26 | 1.21 | +246.4 | 4280.4 | +326.1 | 6760.2 | +184.7 | 3976.7 | +17.35 | 341.5 | +0.27 | 346.8 | +10.85 | 555.0 | +126.3 | 2828.5 | -6.24 | 218.7 | +91.60 | 2144.8 | +65.10 | 1622.7 |
| 4Q26 | 1.22 | +246.3 | 4271.3 | +334.4 | 6926.4 | +186.3 | 4012.0 | +17.50 | 344.4 | +0.30 | 350.7 | +11.10 | 562.9 | +130.5 | 2912.5 | -6.60 | 213.6 | +93.00 | 2175.9 | +65.30 | 1629.1 |
| 2025 | 1.22 | +213.7 | 3734.4 | +321.9 | 6682.7 | +183.0 | 3948.0 | +17.55 | 345.5 | -1.40 | 318.0 | +10.05 | 543.3 | +116.7 | 2641.9 | -3.99 | 266.9 | +90.80 | 2133.1 | +60.40 | 1534.1 |
| 2026 | 1.22 | +236.6 | 4090.5 | +323.6 | 6710.1 | +181.9 | 3920.1 | +17.27 | 339.9 | -0.09 | 338.2 | +10.48 | 546.3 | +124.7 | 2794.3 | -5.77 | 226.3 | +92.20 | 2155.5 | +64.20 | 1603.6 |
| 2027 | 1.23 | +222.3 | 3853.6 | +327.8 | 6797.6 | +185.7 | 3999.8 | +17.50 | 344.4 | -1.12 | 322.4 | +16.83 | 675.8 | +168.4 | 3658.9 | -11.36 | 120.9 | +91.00 | 2136.6 | +65.50 | 1634.5 |
| 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 | 1.23 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| SEP25 |
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| OCT25 |
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| 4Q25 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |