DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-01-31 23:00:04 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 | |||||||||||
| SPOT | 1.18 | +152.6 | 2773.0 | +230.4 | 4837.7 | +149.5 | 3245.0 | +15.37 | 302.5 | -0.29 | 296.8 | +15.32 | 604.0 | +124.4 | 2750.6 | +0.71 | 316.4 | +90.50 | 2084.6 | +75.70 | 1793.0 |
| JAN26 | 1.18 | +157.6 | 2848.4 | +231.9 | 4865.0 | +149.5 | 3244.0 | +15.29 | 300.9 | -0.27 | 295.6 | +14.64 | 589.0 | +124.1 | 2743.7 | +0.61 | 313.0 | +91.10 | 2094.3 | +75.50 | 1787.3 |
| FEB26 | 1.19 | +177.1 | 3176.2 | +231.4 | 4867.2 | +156.9 | 3400.0 | +15.87 | 312.4 | +0.31 | 318.5 | +15.06 | 608.9 | +123.2 | 2736.9 | -0.65 | 299.6 | +91.00 | 2103.7 | +74.60 | 1781.7 |
| MAR26 | 1.19 | +189.6 | 3381.4 | +241.1 | 5066.7 | +162.5 | 3521.0 | +16.34 | 321.6 | +0.28 | 327.1 | +14.53 | 607.7 | +123.9 | 2761.0 | -1.85 | 285.1 | +91.80 | 2129.2 | +75.20 | 1801.0 |
| APR26 | 1.19 | +195.3 | 3478.6 | +244.2 | 5135.8 | +167.5 | 3627.0 | +16.74 | 329.5 | +0.02 | 329.9 | +14.00 | 605.1 | +125.4 | 2797.5 | -2.66 | 277.2 | +92.40 | 2147.9 | +75.20 | 1810.3 |
| MAY26 | 1.19 | +198.6 | 3527.4 | +251.7 | 5291.0 | +172.0 | 3721.0 | +17.08 | 336.2 | -0.14 | 333.4 | +13.72 | 606.3 | +127.1 | 2837.3 | -3.11 | 275.0 | +91.70 | 2141.6 | +75.30 | 1819.3 |
| JUN26 | 1.19 | +200.9 | 3554.5 | +256.0 | 5381.0 | +175.7 | 3800.0 | +17.37 | 342.0 | -0.23 | 337.5 | +13.66 | 610.8 | +129.0 | 2880.4 | -3.45 | 274.0 | +89.90 | 2112.1 | +75.00 | 1818.0 |
| JUL26 | 1.19 | +187.4 | 3298.1 | +238.9 | 5023.2 | +162.3 | 3516.0 | +16.32 | 321.2 | +0.20 | 325.2 | +14.53 | 607.2 | +124.2 | 2765.1 | -1.72 | 287.3 | +91.70 | 2126.9 | +75.00 | 1797.7 |
| 2Q26 | 1.19 | +200.8 | 3521.4 | +256.0 | 5381.1 | +175.3 | 3791.7 | +17.35 | 341.5 | -0.21 | 337.4 | +13.67 | 610.5 | +129.1 | 2882.0 | -3.43 | 274.0 | +90.00 | 2113.3 | +74.80 | 1814.1 |
| 3Q26 | 1.19 | +205.8 | 3596.3 | +271.0 | 5683.2 | +179.4 | 3879.7 | +17.69 | 348.2 | -0.20 | 344.3 | +13.79 | 619.6 | +135.8 | 3021.0 | -3.77 | 273.9 | +89.00 | 2099.9 | +75.10 | 1826.1 |
| 4Q26 | 1.20 | +207.9 | 3608.1 | +276.6 | 5780.9 | +175.2 | 3784.3 | +17.07 | 336.0 | -0.47 | 326.8 | +14.47 | 620.9 | +139.7 | 3085.6 | -4.41 | 249.3 | +87.50 | 2059.4 | +77.90 | 1869.1 |
| 1Q27 | 1.20 | +210.7 | 3642.1 | +282.2 | 5890.6 | +176.1 | 3802.0 | +17.08 | 336.1 | -0.90 | 317.9 | +14.40 | 618.6 | +142.5 | 3141.9 | -7.40 | 190.6 | +86.90 | 2047.3 | +78.30 | 1878.2 |
| 2Q27 | 1.20 | +186.3 | 3234.9 | +249.1 | 5230.3 | +166.0 | 3595.2 | +16.61 | 327.0 | -0.19 | 323.3 | +14.07 | 603.9 | +128.1 | 2848.3 | -1.99 | 287.8 | +90.40 | 2105.7 | +74.80 | 1799.1 |
| 2026 | 1.19 | +217.8 | 3734.7 | +290.0 | 6047.2 | +197.2 | 4220.3 | +17.22 | 339.0 | -0.79 | 323.5 | +16.62 | 666.2 | +144.4 | 3181.7 | -7.81 | 185.2 | +86.40 | 2039.7 | +59.20 | 1504.5 |
| 2027 | 1.20 | +242.2 | 4120.1 | +354.2 | 7324.6 | +306.8 | 6391.5 | +17.86 | 351.6 | -0.85 | 334.9 | +26.55 | 874.2 | +157.6 | 3454.4 | -11.43 | 126.7 | +85.90 | 2043.3 | -38.50 | -405.7 |
| 2028 | 1.13 | +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 | 0.98 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| SPOT |
|---|
| JAN26 |
| FEB26 |
| MAR26 |
| APR26 |
| MAY26 |
| JUN26 |
| JUL26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |