Commodity ratio · live
Heating Oil Futures to Milk Ratio
The heating oil futures to milk ratio is 0.2640 — Heating Oil Futures at $4.39 per Gallan divided by Milk at $16.63 per Hundredweight.
Prices as of Aug 24, 2026, 11:33 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Heating Oil Futures to Milk ratio
1.000 Gal of heating oil futures = 0.2640 Cwt of milk
Inverse (MILK/HO-FUT): 3.788 — one Hundredweight of milk buys that much heating oil futures.
Near the top of its 1 year range — historically stretched. (92th percentile of the last 1 year)
Heating Oil Futures
$4.39
per Gallan
Milk
$16.63
per Hundredweight
Unit basis: USD per Gallan ÷ USD per Hundredweight. The ratio reads as Hundredweights of milk per Gallan of heating oil futures. Prices as of Mon, 24 Aug 2026 11:33:18 GMT.
1Y average
0.1930
median 0.1985
1Y low
0.1246
Oct 12, 2025
1Y high
0.2920
Mar 20, 2026
Normal band
0.1440–0.2420
mean ± 1 std dev
Deviation from mean
+1.45σ
327 observations
Heating Oil Futures to Milk ratio charts
Pick a range once — it applies to the HO-FUT/MILK ratio line, the OHLC candles and the Heating Oil Futures / Milk price chart below.
HO-FUT/MILK ratio line
How many Cwt of Milk one Gal of Heating Oil Futures buys, over 1Y.
HO-FUT/MILK ratio candles
Open, high, low and close of the HO-FUT/MILK ratio for each period in the last 1Y.
Heating Oil Futures and Milk prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the heating oil futures to milk ratio
Heating Oil Futures to Milk ratio = Heating Oil Futures price per Gallan ÷ Milk price per Hundredweight
The two legs use different units, so the result is a rate — Hundredweights of milk per Gallan of heating oil futures — rather than a plain count.
Worked example, live prices: $4.39 ÷ $16.63 = 0.2640. The inverse is 3.788.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4640.70 |
| 2 | XAG | Silver | 68.90 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.88 |
| 5 | NG-FUT | Natural Gas Futures | 2.78 |
| 6 | PL | Platinum | 1883.84 |
| 7 | PA | Palladium | 1350.90 |
Frequently asked questions
What is the heating oil futures to milk ratio today?
The heating oil futures to milk ratio is 0.2640 — Heating Oil Futures at $4.39 per Gallan divided by Milk at $16.63 per Hundredweight, from live mid-market prices.
How do you calculate the heating oil futures to milk ratio?
Divide the heating oil futures price per Gallan by the milk price per Hundredweight. If the two units differ, the result is a rate rather than a plain count — read it as Hundredweights of milk per Gallan of heating oil futures.
What is the inverse of the heating oil futures to milk ratio?
The inverse, milk to heating oil futures, is 3.788 — how many Gallans of heating oil futures one Hundredweight of milk buys.