DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2025-08-03 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 | |||||||||||
| AUG25 | 1.16 | +266.7 | 4833.4 | +406.1 | 8331.9 | +179.7 | 3876.0 | +17.21 | 338.8 | +1.78 | 373.8 | +12.72 | 589.2 | +123.2 | 2763.8 | -4.31 | 254.0 | +102.0 | 2346.5 | +67.50 | 1666.8 |
| SEP25 | 1.16 | +271.4 | 4911.3 | +403.1 | 8284.7 | +186.8 | 4026.0 | +17.74 | 349.2 | +1.36 | 376.0 | +12.32 | 591.7 | +128.2 | 2873.6 | -5.50 | 240.9 | +101.2 | 2341.9 | +67.30 | 1674.0 |
| OCT25 | 1.16 | +271.9 | 4912.2 | +398.0 | 8182.8 | +186.0 | 4009.0 | +17.70 | 348.4 | +1.45 | 377.0 | +12.24 | 589.4 | +126.9 | 2846.3 | -5.31 | 243.9 | +100.9 | 2335.3 | +67.40 | 1674.5 |
| NOV25 | 1.16 | +276.8 | 4988.3 | +397.7 | 8183.7 | +190.1 | 4097.0 | +18.07 | 355.6 | +1.30 | 381.1 | +11.75 | 586.8 | +128.5 | 2884.6 | -5.89 | 239.7 | +99.20 | 2309.2 | +67.10 | 1675.6 |
| DEC25 | 1.16 | +276.3 | 4975.3 | +396.0 | 8153.6 | +190.4 | 4105.0 | +18.18 | 357.8 | +1.26 | 382.6 | +11.53 | 584.7 | +129.5 | 2907.6 | -6.07 | 238.4 | +98.10 | 2288.7 | +67.10 | 1678.5 |
| JAN26 | 1.16 | +271.0 | 4859.9 | +391.8 | 8067.4 | +187.6 | 4048.0 | +18.07 | 355.6 | +1.28 | 380.8 | +11.61 | 584.1 | +131.1 | 2936.9 | -6.10 | 235.6 | +97.60 | 2277.4 | +68.20 | 1697.7 |
| FEB26 | 1.17 | +267.9 | 4773.2 | +389.4 | 8016.4 | +185.1 | 3996.0 | +17.86 | 351.5 | +1.36 | 378.2 | +11.86 | 584.9 | +132.6 | 2961.5 | -6.00 | 233.4 | +97.70 | 2274.9 | +69.90 | 1726.7 |
| 4Q25 | 1.17 | +275.0 | 4879.4 | +397.2 | 8173.4 | +188.8 | 4070.3 | +17.98 | 353.9 | +1.34 | 380.2 | +11.84 | 587.0 | +128.3 | 2879.5 | -5.75 | 240.7 | +99.40 | 2311.1 | +67.20 | 1676.2 |
| 1Q26 | 1.16 | +268.9 | 4758.3 | +389.4 | 8016.4 | +185.9 | 4011.7 | +17.90 | 352.3 | +1.34 | 378.8 | +11.83 | 585.1 | +132.5 | 2959.6 | -5.98 | 234.7 | +97.70 | 2275.2 | +69.60 | 1721.5 |
| 2Q26 | 1.17 | +270.6 | 4815.8 | +389.7 | 8022.9 | +187.0 | 4033.3 | +17.87 | 351.7 | +1.50 | 381.2 | +12.05 | 588.9 | +137.3 | 3053.7 | -5.88 | 236.0 | +98.30 | 2287.2 | +71.60 | 1761.0 |
| 3Q26 | 1.17 | +275.9 | 4888.7 | +397.4 | 8177.8 | +189.5 | 4084.7 | +18.03 | 355.0 | +1.65 | 387.4 | +12.17 | 594.6 | +142.3 | 3155.6 | -6.64 | 224.4 | +93.90 | 2204.1 | +70.90 | 1751.6 |
| 4Q26 | 1.17 | +277.9 | 4909.9 | +398.5 | 8202.4 | +190.6 | 4110.3 | +18.20 | 358.3 | +1.40 | 386.2 | +12.30 | 600.8 | +143.3 | 3179.3 | -7.30 | 214.9 | +92.60 | 2180.9 | +69.30 | 1723.1 |
| 2025 | 1.17 | +272.6 | 4800.1 | +400.2 | 8227.3 | +186.6 | 4022.6 | +17.78 | 350.0 | +1.43 | 378.1 | +12.11 | 588.4 | +127.3 | 2855.2 | -5.41 | 243.4 | +100.3 | 2324.3 | +67.30 | 1673.9 |
| 2026 | 1.16 | +273.3 | 4801.2 | +393.7 | 8104.9 | +188.3 | 4060.0 | +18.00 | 354.3 | +1.48 | 383.4 | +12.09 | 592.4 | +138.8 | 3087.0 | -6.44 | 227.5 | +95.60 | 2236.9 | +70.40 | 1739.3 |
| 2027 | 1.17 | +218.4 | 3850.6 | +369.6 | 7590.3 | +188.8 | 4029.9 | +15.98 | 314.5 | +0.27 | 319.9 | +18.60 | 680.6 | +138.0 | 3030.9 | -7.27 | 171.5 | +95.20 | 2188.9 | +71.70 | 1726.0 |
| 2028 | 1.15 | +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 | 1.05 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| AUG25 |
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| SEP25 |
| OCT25 |
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| 4Q25 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 2025 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |