DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-11-07 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 | |||||||||||
| NOV25 | 1.16 | +161.0 | 3027.6 | +288.3 | 6011.3 | +178.4 | 3849.0 | +17.13 | 337.2 | -3.47 | 268.9 | +9.08 | 516.0 | +105.7 | 2417.5 | -2.56 | 286.9 | +81.20 | 1935.8 | +55.80 | 1435.7 |
| DEC25 | 1.16 | +162.3 | 3040.5 | +277.8 | 5800.8 | +166.2 | 3605.0 | +16.90 | 332.7 | -3.18 | 270.1 | +9.14 | 512.6 | +106.9 | 2436.3 | -1.23 | 308.4 | +80.90 | 1924.5 | +56.90 | 1453.2 |
| JAN26 | 1.16 | +162.8 | 3042.0 | +276.1 | 5765.7 | +168.1 | 3641.0 | +16.84 | 331.5 | -3.13 | 269.8 | +9.19 | 512.3 | +107.1 | 2439.1 | -1.44 | 303.2 | +81.30 | 1931.9 | +56.80 | 1449.1 |
| FEB26 | 1.16 | +166.3 | 3102.4 | +276.7 | 5771.9 | +163.1 | 3536.0 | +16.55 | 325.8 | -2.77 | 271.2 | +9.26 | 508.0 | +108.8 | 2467.6 | -0.98 | 306.5 | +81.70 | 1933.1 | +57.20 | 1452.0 |
| MAR26 | 1.17 | +173.2 | 3203.9 | +277.6 | 5790.0 | +163.3 | 3539.0 | +16.51 | 325.0 | -2.49 | 275.9 | +9.09 | 503.9 | +110.5 | 2500.1 | -1.12 | 302.9 | +82.20 | 1942.6 | +57.60 | 1458.2 |
| APR26 | 1.17 | +182.7 | 3364.7 | +283.9 | 5915.5 | +165.0 | 3575.0 | +16.63 | 327.3 | -2.19 | 284.2 | +8.98 | 504.0 | +112.6 | 2543.9 | -1.35 | 300.8 | +82.90 | 1959.3 | +58.00 | 1469.9 |
| MAY26 | 1.17 | +190.0 | 3466.7 | +288.9 | 6016.5 | +166.6 | 3609.0 | +16.76 | 330.0 | -1.91 | 292.4 | +9.21 | 511.2 | +114.3 | 2579.9 | -1.60 | 298.6 | +84.10 | 1984.8 | +58.70 | 1485.5 |
| 1Q26 | 1.18 | +167.4 | 3078.9 | +276.8 | 5775.9 | +164.8 | 3572.0 | +16.63 | 327.4 | -2.80 | 272.3 | +9.18 | 508.1 | +108.8 | 2468.9 | -1.18 | 304.2 | +81.70 | 1935.9 | +57.20 | 1453.1 |
| 2Q26 | 1.18 | +189.5 | 3444.0 | +288.7 | 6012.2 | +166.8 | 3613.7 | +16.78 | 330.3 | -1.92 | 292.4 | +9.22 | 511.8 | +114.2 | 2578.3 | -1.68 | 297.2 | +84.00 | 1983.4 | +58.60 | 1483.7 |
| 3Q26 | 1.18 | +205.4 | 3709.0 | +307.5 | 6394.9 | +176.2 | 3811.0 | +17.40 | 342.6 | -1.38 | 315.5 | +9.90 | 537.5 | +121.2 | 2728.1 | -3.18 | 279.9 | +83.20 | 1980.2 | +59.90 | 1521.1 |
| 4Q26 | 1.19 | +216.4 | 3885.2 | +317.8 | 6603.2 | +180.4 | 3898.7 | +17.70 | 348.3 | -0.79 | 332.7 | +10.70 | 558.9 | +125.2 | 2812.4 | -4.21 | 265.4 | +82.10 | 1965.2 | +61.20 | 1552.5 |
| 1Q27 | 1.19 | +224.7 | 4006.1 | +322.4 | 6689.0 | +179.5 | 3876.3 | +17.45 | 343.5 | -0.70 | 329.9 | +12.40 | 587.9 | +128.4 | 2871.2 | -6.00 | 226.2 | +82.60 | 1969.2 | +61.70 | 1557.6 |
| 2025 | 1.19 | +161.6 | 2947.3 | +283.0 | 5906.1 | +172.3 | 3727.0 | +17.02 | 335.0 | -3.32 | 269.5 | +9.11 | 514.3 | +106.3 | 2426.9 | -1.89 | 297.7 | +81.00 | 1930.2 | +56.40 | 1444.5 |
| 2026 | 1.20 | +194.7 | 3484.7 | +297.7 | 6196.5 | +172.0 | 3723.8 | +17.13 | 337.2 | -1.72 | 303.2 | +9.75 | 529.1 | +117.3 | 2646.9 | -2.57 | 286.7 | +82.80 | 1966.2 | +59.20 | 1502.6 |
| 2027 | 1.20 | +220.2 | 3899.7 | +307.3 | 6395.3 | +181.8 | 3924.1 | +17.58 | 346.1 | -1.03 | 325.9 | +16.81 | 677.0 | +127.9 | 2862.9 | -8.01 | 188.4 | +82.70 | 1974.5 | +61.80 | 1561.9 |
| 2028 | 1.20 | +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 | - | - | - | - |
| NOV25 |
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| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| MAY26 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |