DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2025-09-05 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 | |||||||||||
| SEP25 | 1.17 | +230.2 | 4878.3 | +369.1 | 4878.3 | +185.2 | 3993.0 | +17.64 | 347.2 | -0.54 | 336.6 | +11.27 | 569.1 | +123.3 | 2773.7 | +95.00 | 2217.8 | +60.00 | 1527.7 | -4.51 | 258.5 |
| OCT25 | 1.18 | +234.3 | 4945.5 | +341.4 | 4945.5 | +177.3 | 3823.0 | +16.92 | 333.1 | +0.11 | 335.2 | +11.10 | 551.6 | +123.6 | 2766.1 | +93.60 | 2176.0 | +61.50 | 1543.3 | -3.90 | 256.3 |
| NOV25 | 1.18 | +233.6 | 4935.3 | +341.4 | 4935.3 | +179.5 | 3870.0 | +17.09 | 336.4 | -0.08 | 334.9 | +11.00 | 552.9 | +123.7 | 2772.3 | +94.10 | 2188.7 | +61.40 | 1545.2 | -4.10 | 255.7 |
| DEC25 | 1.18 | +235.5 | 4970.4 | +342.3 | 4970.4 | +178.4 | 3845.0 | +16.98 | 334.3 | +0.02 | 334.7 | +10.61 | 543.2 | +124.5 | 2785.2 | +93.70 | 2178.7 | +62.40 | 1562.0 | -4.31 | 249.5 |
| JAN26 | 1.18 | +237.3 | 5007.4 | +341.4 | 5007.4 | +178.9 | 3858.0 | +17.12 | 336.9 | +0.01 | 337.0 | +10.32 | 540.0 | +124.9 | 2796.1 | +93.70 | 2181.8 | +63.30 | 1583.7 | -4.85 | 241.5 |
| FEB26 | 1.19 | +240.1 | 5065.0 | +342.5 | 5065.0 | +179.2 | 3865.0 | +17.17 | 338.0 | +0.06 | 339.1 | +10.18 | 538.3 | +124.8 | 2795.1 | +94.10 | 2189.8 | +64.50 | 1608.3 | -5.16 | 236.4 |
| MAR26 | 1.19 | +244.1 | 5144.5 | +343.3 | 5144.5 | +180.0 | 3883.0 | +17.23 | 339.2 | +0.11 | 341.4 | +10.12 | 538.4 | +124.6 | 2791.3 | +94.50 | 2200.2 | +65.60 | 1630.9 | -5.30 | 234.9 |
| 4Q25 | 1.20 | +234.5 | 4950.4 | +341.7 | 4950.4 | +178.4 | 3846.0 | +17.00 | 334.6 | +0.02 | 334.9 | +10.90 | 549.2 | +124.0 | 2774.5 | +93.80 | 2181.1 | +61.80 | 1550.2 | -4.10 | 253.8 |
| 1Q26 | 1.20 | +240.5 | 5072.3 | +342.4 | 5072.3 | +179.4 | 3868.7 | +17.17 | 338.0 | +0.06 | 339.2 | +10.20 | 538.9 | +124.8 | 2794.2 | +94.10 | 2190.6 | +64.50 | 1607.6 | -5.10 | 237.6 |
| 2Q26 | 1.19 | +252.9 | 5320.5 | +345.1 | 5320.5 | +182.5 | 3934.3 | +17.39 | 342.4 | +0.55 | 353.2 | +10.48 | 548.7 | +127.6 | 2854.1 | +95.50 | 2222.7 | +67.20 | 1664.5 | -5.60 | 232.2 |
| 3Q26 | 1.20 | +263.5 | 5533.9 | +366.7 | 5533.9 | +185.5 | 3999.7 | +17.67 | 347.9 | +0.98 | 367.1 | +10.98 | 564.0 | +132.5 | 2956.4 | +92.60 | 2170.7 | +66.60 | 1659.2 | -6.28 | 224.4 |
| 4Q26 | 1.20 | +268.6 | 5637.2 | +371.8 | 5637.2 | +188.1 | 4053.7 | +17.82 | 350.9 | +1.10 | 372.3 | +11.20 | 572.0 | +136.9 | 3046.1 | +93.60 | 2194.0 | +67.80 | 1684.6 | -6.90 | 214.9 |
| 2025 | 1.20 | +233.4 | 4932.4 | +348.5 | 4932.4 | +180.1 | 3882.8 | +17.16 | 337.8 | -0.12 | 335.4 | +11.00 | 554.2 | +123.8 | 2774.3 | +94.10 | 2190.3 | +61.30 | 1544.6 | -4.20 | 255.0 |
| 2026 | 1.21 | +256.4 | 5391.0 | +356.5 | 5391.0 | +183.9 | 3964.1 | +17.52 | 344.8 | +0.67 | 357.9 | +10.73 | 555.9 | +130.5 | 2912.7 | +94.00 | 2194.5 | +66.50 | 1654.0 | -5.97 | 227.3 |
| 2027 | 1.21 | +224.3 | 4756.3 | +433.4 | 4756.3 | +185.4 | 3990.3 | +17.29 | 340.4 | -0.84 | 323.9 | +17.07 | 676.4 | +143.9 | 3173.0 | +94.40 | 2199.1 | +68.90 | 1697.3 | -11.15 | 120.9 |
| 2028 | 1.21 | +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 |
| 2029 | 1.22 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
| SEP25 |
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| OCT25 |
| NOV25 |
| DEC25 |
| JAN26 |
| FEB26 |
| MAR26 |
| 4Q25 |
| 1Q26 |
| 2Q26 |
| 3Q26 |
| 4Q26 |
| 2025 |
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| 2029 |