DAIRY PRODUCTS in US$/mT
Comparative Dairies between US, Europe and New Zealand. Basis in CWT/$.
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last update: 2026-02-02 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 | +159.4 | 3439.2 | +228.4 | 3439.2 | +148.7 | 3230.0 | +15.34 | 302.0 | +0.37 | 309.2 | +15.58 | 608.6 | +121.0 | 2682.9 | +91.70 | 2108.0 | +72.30 | 1726.1 | +0.86 | 318.9 |
| MAR26 | 1.18 | +162.8 | 3507.6 | +232.6 | 3507.6 | +149.6 | 3247.0 | +15.36 | 302.4 | +0.13 | 304.9 | +15.10 | 599.7 | +122.6 | 2716.6 | +92.20 | 2118.1 | +77.50 | 1828.8 | +0.62 | 314.7 |
| APR26 | 1.18 | +184.7 | 3953.3 | +234.5 | 3953.3 | +158.0 | 3427.0 | +16.10 | 317.0 | +0.85 | 333.8 | +16.10 | 633.9 | +121.7 | 2713.0 | +92.00 | 2128.9 | +75.80 | 1809.3 | -0.56 | 305.9 |
| MAY26 | 1.18 | +196.9 | 4202.4 | +229.7 | 4202.4 | +164.4 | 3562.0 | +16.59 | 326.5 | +0.98 | 345.7 | +15.69 | 635.3 | +122.8 | 2743.8 | +93.00 | 2157.1 | +76.90 | 1840.6 | -1.44 | 298.1 |
| JUN26 | 1.18 | +201.9 | 4307.1 | +242.9 | 4307.1 | +169.5 | 3670.0 | +16.94 | 333.4 | +0.70 | 347.2 | +15.01 | 628.9 | +124.4 | 2782.1 | +93.70 | 2178.1 | +76.80 | 1846.1 | -2.07 | 292.6 |
| JUL26 | 1.18 | +204.9 | 4373.0 | +246.6 | 4373.0 | +174.0 | 3764.0 | +17.26 | 339.7 | +0.31 | 345.8 | +14.67 | 628.5 | +126.2 | 2824.1 | +93.00 | 2169.7 | +76.50 | 1844.6 | -2.76 | 285.3 |
| AUG26 | 1.19 | +207.4 | 4428.5 | +251.6 | 4428.5 | +177.4 | 3838.0 | +17.56 | 345.7 | +0.15 | 348.7 | +14.50 | 631.2 | +129.4 | 2892.2 | +91.00 | 2136.5 | +75.60 | 1833.2 | -3.28 | 281.2 |
| 2Q26 | 1.19 | +194.5 | 4154.3 | +235.7 | 4154.3 | +164.0 | 3553.0 | +16.54 | 325.6 | +0.84 | 342.2 | +15.60 | 632.7 | +123.0 | 2746.3 | +92.90 | 2154.7 | +76.50 | 1832.0 | -1.36 | 298.9 |
| 3Q26 | 1.18 | +207.2 | 4424.4 | +254.7 | 4424.4 | +177.0 | 3828.3 | +17.53 | 345.1 | +0.23 | 349.5 | +14.54 | 631.4 | +129.4 | 2893.1 | +91.00 | 2135.7 | +75.60 | 1832.7 | -3.21 | 282.0 |
| 4Q26 | 1.19 | +210.7 | 4499.1 | +265.0 | 4499.1 | +180.4 | 3902.3 | +17.88 | 351.9 | +0.12 | 354.2 | +14.64 | 640.1 | +136.4 | 3035.9 | +88.70 | 2098.6 | +75.20 | 1831.4 | -3.90 | 275.1 |
| 1Q27 | 1.19 | +208.3 | 4436.8 | +274.7 | 4436.8 | +175.4 | 3790.3 | +17.12 | 337.0 | +0.11 | 339.2 | +15.25 | 637.1 | +141.9 | 3131.0 | +87.20 | 2054.2 | +78.00 | 1871.9 | -4.46 | 249.3 |
| 2Q27 | 1.19 | +210.7 | 4483.2 | +283.4 | 4483.2 | +176.0 | 3800.7 | +17.08 | 336.3 | -0.30 | 330.0 | +14.30 | 618.6 | +145.0 | 3190.3 | +86.40 | 2036.3 | +78.70 | 1884.9 | -7.40 | 190.6 |
| 2026 | 1.20 | +196.3 | 4198.2 | +247.9 | 4198.2 | +169.3 | 3666.2 | +16.96 | 333.9 | +0.37 | 341.1 | +15.00 | 629.2 | +128.2 | 2856.8 | +91.10 | 2126.7 | +75.60 | 1822.1 | -2.17 | 291.0 |
| 2027 | 1.19 | +217.3 | 4615.5 | +283.2 | 4615.5 | +201.2 | 4297.2 | +17.15 | 337.6 | -0.31 | 331.6 | +16.82 | 668.7 | +145.4 | 3198.9 | +86.30 | 2036.1 | +59.50 | 1508.0 | -7.59 | 188.2 |
| 2028 | 1.20 | +243.2 | 5140.1 | +290.1 | 5140.1 | +313.0 | 6514.1 | +17.89 | 352.2 | -0.84 | 335.6 | +27.09 | 885.4 | +148.4 | 3273.5 | +85.40 | 2034.1 | -43.90 | -511.1 | -11.53 | 125.2 |
| 2029 | 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 |
| 2030 | 1.25 | - | 3988.5 | - | - | - | 3392.6 | - | 312.6 | - | 332.8 | - | 2628.4 | - | - | - | - | - | - | - | 746.8 |
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