DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2026-02-04 23:00:03 GMT
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| US | DE | US | US | US | US | DE | NZ | NZ | US | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| European Euro | Butter Cash Settled | EEX Butter | Cheddar Cheese Cash Settled | Class 3 Milk Composite | Class 4 Milk Composite | Nonfat Dry Composite | Eurex Skimmed Milk Powder | Whole Milk Powder | Skimmed Milk Powder | Whey, Dry, Electronic | |||||||||||
| Pips | CMG | EUREX | CMG | CME | GLOBEX | GLOBEX | EUREX | NZF | NZF | GLOBEX | |||||||||||
| DA basis | US$/mt | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | DA basis | US$/mT | ||
| Swap | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | $/cwt | Outright | |
| EUR | C3CB | FBUT | C3CSC | C3QDA | C3GDK | C3GNF | FASM | WMP | SMP | C3DY | |||||||||||
| FEB26 | 1.18 | +161.0 | 3472.3 | +230.6 | 3472.3 | +149.8 | 3252.0 | +15.40 | 303.1 | - | 303.1 | +15.60 | 610.1 | +125.5 | 2773.0 | +94.70 | 2167.0 | +75.20 | 1783.4 | +0.61 | 315.2 |
| MAR26 | 1.18 | +191.6 | 4100.6 | +229.4 | 4100.6 | +165.3 | 3583.0 | +16.75 | 329.7 | +0.35 | 336.6 | +17.19 | 668.1 | +128.1 | 2851.1 | +96.40 | 2227.8 | +80.90 | 1922.5 | -1.43 | 301.6 |
| APR26 | 1.18 | +184.6 | 3958.4 | +241.6 | 3958.4 | +162.9 | 3531.0 | +16.51 | 325.0 | +0.34 | 331.7 | +16.64 | 652.5 | +128.2 | 2848.1 | +96.50 | 2225.2 | +79.50 | 1889.6 | -1.12 | 302.9 |
| MAY26 | 1.18 | +194.4 | 4163.1 | +239.0 | 4163.1 | +170.4 | 3691.0 | +17.11 | 336.8 | +0.37 | 344.1 | +16.39 | 659.5 | +130.7 | 2909.1 | +97.30 | 2252.6 | +80.40 | 1918.9 | -2.12 | 295.0 |
| JUN26 | 1.18 | +199.0 | 4260.6 | +246.3 | 4260.6 | +174.7 | 3782.0 | +17.47 | 343.8 | +0.01 | 344.0 | +15.49 | 648.8 | +133.0 | 2961.4 | +97.60 | 2264.3 | +80.30 | 1925.1 | -2.71 | 290.5 |
| JUL26 | 1.19 | +202.9 | 4342.7 | +253.5 | 4342.7 | +177.3 | 3839.0 | +17.70 | 348.5 | -0.18 | 345.0 | +14.94 | 642.6 | +134.0 | 2985.4 | +96.60 | 2249.9 | +80.00 | 1922.7 | -3.23 | 284.9 |
| AUG26 | 1.20 | +205.7 | 4400.3 | +257.9 | 4400.3 | +179.3 | 3880.0 | +17.83 | 350.9 | -0.11 | 348.7 | +14.62 | 638.6 | +135.2 | 3012.2 | +94.50 | 2210.6 | +79.00 | 1906.0 | -3.65 | 279.0 |
| 2Q26 | 1.20 | +192.7 | 4127.4 | +242.3 | 4127.4 | +169.3 | 3668.0 | +17.03 | 335.2 | +0.24 | 339.9 | +16.18 | 653.6 | +130.6 | 2906.2 | +97.10 | 2247.4 | +80.10 | 1911.2 | -1.98 | 296.1 |
| 3Q26 | 1.18 | +205.6 | 4397.6 | +258.8 | 4397.6 | +179.1 | 3875.7 | +17.81 | 350.6 | -0.14 | 347.9 | +14.62 | 638.5 | +136.0 | 3028.6 | +94.60 | 2211.8 | +79.10 | 1907.3 | -3.55 | 280.8 |
| 4Q26 | 1.21 | +208.3 | 4452.9 | +275.2 | 4452.9 | +180.9 | 3913.7 | +17.92 | 352.7 | -0.13 | 350.1 | +14.24 | 632.9 | +144.3 | 3192.3 | +92.00 | 2163.7 | +78.50 | 1898.0 | -3.84 | 277.0 |
| 1Q27 | 1.21 | +208.3 | 4438.0 | +282.9 | 4438.0 | +175.3 | 3787.3 | +17.14 | 337.4 | +0.05 | 338.4 | +14.84 | 629.5 | +149.2 | 3273.9 | +91.30 | 2134.0 | +80.30 | 1917.1 | -4.46 | 249.5 |
| 2Q27 | 1.22 | +211.3 | 4496.3 | +289.8 | 4496.3 | +176.0 | 3800.3 | +17.10 | 336.6 | -0.30 | 330.0 | +14.30 | 618.6 | +151.2 | 3312.2 | +91.40 | 2134.9 | +81.10 | 1933.6 | -7.40 | 190.6 |
| 2026 | 1.22 | +197.5 | 4227.9 | +253.5 | 4227.9 | +173.0 | 3746.1 | +17.31 | 340.8 | +0.02 | 341.2 | +15.26 | 641.2 | +135.1 | 3000.5 | +94.70 | 2205.8 | +79.00 | 1895.9 | -2.63 | 289.0 |
| 2027 | 1.22 | +216.8 | 4608.1 | +288.2 | 4608.1 | +180.2 | 3886.2 | +17.27 | 340.0 | -0.43 | 331.5 | +16.08 | 656.5 | +149.9 | 3291.6 | +91.10 | 2133.9 | +69.30 | 1704.3 | -7.98 | 183.0 |
| 2028 | 1.23 | +231.7 | 4906.5 | +263.5 | 4906.5 | +196.5 | 4215.1 | +17.59 | 346.3 | +0.21 | 350.4 | +21.41 | 767.8 | +135.2 | 3008.6 | +90.70 | 2131.1 | +6.70 | 478.4 | -12.75 | 95.33 |
| 2029 | 1.23 | +230.8 | 4505.6 | +592.8 | 11632 | -36.10 | -747.7 | -1.88 | -36.91 | +16.23 | 282.5 | +30.23 | 558.1 | +175.4 | 3415.8 | +113.2 | 2192.3 | +109.7 | 2121.9 | +2.97 | 21.46 |
| 2030 | 1.23 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
| FEB26 |
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| 1Q27 |
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