DAIRY PRODUCTS in EUR/mT
Comparative Dairies between US, Europe and New Zealand. Basis Calculated in Cwt/$..
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last update: 2026-02-03 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 | |||||||||||
| FEB26 | 1.18 | +158.3 | 2891.5 | +228.7 | 4804.0 | +149.6 | 3247.0 | +15.34 | 302.0 | +0.06 | 303.1 | +15.07 | 598.7 | +123.4 | 2731.1 | +0.79 | 317.6 | +92.10 | 2114.5 | +72.90 | 1736.4 |
| MAR26 | 1.18 | +161.5 | 2941.7 | +232.7 | 4882.8 | +150.2 | 3258.0 | +15.36 | 302.4 | -0.05 | 301.5 | +14.78 | 593.3 | +129.7 | 2856.3 | +0.62 | 314.7 | +94.40 | 2160.3 | +78.60 | 1849.1 |
| APR26 | 1.19 | +182.1 | 3292.1 | +229.3 | 4830.2 | +158.6 | 3440.0 | +16.12 | 317.4 | +0.63 | 329.8 | +15.69 | 626.3 | +125.9 | 2796.3 | -0.57 | 306.1 | +93.50 | 2157.8 | +76.70 | 1827.2 |
| MAY26 | 1.19 | +193.8 | 3488.8 | +242.3 | 5096.5 | +165.5 | 3585.0 | +16.64 | 327.6 | +0.65 | 340.3 | +15.16 | 626.1 | +124.5 | 2778.3 | -1.55 | 297.1 | +94.30 | 2183.1 | +77.80 | 1858.4 |
| JUN26 | 1.19 | +198.9 | 3576.5 | +248.3 | 5222.8 | +170.9 | 3699.0 | +17.03 | 335.3 | +0.33 | 341.8 | +14.39 | 618.5 | +124.1 | 2777.9 | -2.24 | 291.3 | +94.80 | 2202.3 | +77.60 | 1862.9 |
| JUL26 | 1.19 | +202.5 | 3624.6 | +246.9 | 5200.3 | +174.4 | 3773.0 | +17.29 | 340.4 | +0.13 | 342.9 | +14.27 | 621.3 | +127.2 | 2845.0 | -2.82 | 284.9 | +94.30 | 2195.8 | +77.20 | 1859.6 |
| AUG26 | 1.19 | +205.5 | 3674.6 | +251.5 | 5295.4 | +176.7 | 3822.0 | +17.48 | 344.0 | +0.07 | 345.3 | +14.29 | 625.3 | +131.7 | 2936.0 | -3.25 | 280.1 | +92.30 | 2160.0 | +76.20 | 1843.1 |
| 2Q26 | 1.20 | +191.6 | 3416.5 | +239.9 | 5049.8 | +165.0 | 3574.7 | +16.60 | 326.8 | +0.53 | 337.3 | +15.08 | 623.6 | +124.8 | 2784.2 | -1.45 | 298.2 | +94.20 | 2181.1 | +77.40 | 1849.5 |
| 3Q26 | 1.20 | +205.2 | 3645.5 | +254.6 | 5356.0 | +176.6 | 3820.7 | +17.49 | 344.2 | +0.05 | 345.2 | +14.18 | 623.3 | +131.1 | 2925.1 | -3.22 | 280.8 | +92.10 | 2158.1 | +76.10 | 1842.3 |
| 4Q26 | 1.21 | +207.8 | 3682.0 | +272.2 | 5708.9 | +180.4 | 3901.3 | +17.82 | 350.7 | -0.08 | 349.2 | +13.59 | 618.2 | +137.0 | 3047.5 | -3.86 | 274.8 | +88.50 | 2091.8 | +74.80 | 1823.9 |
| 1Q27 | 1.21 | +207.8 | 3659.7 | +274.3 | 5735.5 | +175.3 | 3788.0 | +17.12 | 336.9 | +0.07 | 338.3 | +14.42 | 620.8 | +141.7 | 3126.9 | -4.44 | 249.5 | +86.70 | 2043.4 | +77.50 | 1862.1 |
| 2Q27 | 1.21 | +210.7 | 3694.0 | +284.0 | 5927.6 | +176.0 | 3800.3 | +17.08 | 336.3 | -0.30 | 330.0 | +14.30 | 618.6 | +145.3 | 3197.3 | -7.40 | 190.6 | +85.80 | 2025.9 | +78.20 | 1875.3 |
| 2026 | 1.22 | +194.0 | 3410.1 | +251.1 | 5275.5 | +169.6 | 3672.3 | +16.95 | 333.6 | +0.14 | 336.4 | +14.40 | 617.0 | +130.2 | 2896.1 | -2.20 | 290.3 | +91.90 | 2142.5 | +76.00 | 1830.2 |
| 2027 | 1.22 | +217.2 | 3777.3 | +287.2 | 5991.4 | +201.1 | 4296.5 | +17.15 | 337.6 | -0.32 | 331.3 | +16.62 | 664.7 | +147.5 | 3241.4 | -7.59 | 188.2 | +85.80 | 2025.7 | +59.10 | 1500.2 |
| 2028 | 1.23 | +243.2 | 4196.0 | +336.4 | 6973.2 | +313.0 | 6514.1 | +17.89 | 352.2 | -0.84 | 335.6 | +27.09 | 885.4 | +173.4 | 3765.5 | -11.53 | 125.2 | +84.90 | 2023.7 | -43.70 | -508.5 |
| 2029 | 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 |
| 2030 | 1.23 | - | 4461.1 | - | 10628 | - | 3794.6 | - | 349.7 | - | 372.3 | - | 2939.9 | - | - | - | 835.3 | - | - | - | - |
| FEB26 |
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| MAR26 |
| APR26 |
| MAY26 |
| JUN26 |
| JUL26 |
| AUG26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 1Q27 |
| 2Q27 |
| 2026 |
| 2027 |
| 2028 |
| 2029 |
| 2030 |