Commodity ratio · live
Milk to Heating Oil Futures Ratio
The milk to heating oil futures ratio is 3.788 — Milk at $16.63 per Hundredweight divided by Heating Oil Futures at $4.39 per Gallan.
Prices as of Aug 24, 2026, 11:33 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Milk to Heating Oil Futures ratio
1.000 Cwt of milk = 3.788 Gal of heating oil futures
Inverse (HO-FUT/MILK): 0.2640 — one Gallan of heating oil futures buys that much milk.
Near the bottom of its 1 year range — historically compressed. (8th percentile of the last 1 year)
Milk
$16.63
per Hundredweight
Heating Oil Futures
$4.39
per Gallan
Unit basis: USD per Hundredweight ÷ USD per Gallan. The ratio reads as Gallans of heating oil futures per Hundredweight of milk. Prices as of Mon, 24 Aug 2026 11:33:18 GMT.
1Y average
5.537
median 5.038
1Y low
3.425
Mar 20, 2026
1Y high
8.024
Oct 12, 2025
Normal band
4.116–6.957
mean ± 1 std dev
Deviation from mean
-1.23σ
327 observations
Milk to Heating Oil Futures ratio charts
Pick a range once — it applies to the MILK/HO-FUT ratio line, the OHLC candles and the Milk / Heating Oil Futures price chart below.
MILK/HO-FUT ratio line
How many Gal of Heating Oil Futures one Cwt of Milk buys, over 1Y.
MILK/HO-FUT ratio candles
Open, high, low and close of the MILK/HO-FUT ratio for each period in the last 1Y.
Milk and Heating Oil Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the milk to heating oil futures ratio
Milk to Heating Oil Futures ratio = Milk price per Hundredweight ÷ Heating Oil Futures price per Gallan
The two legs use different units, so the result is a rate — Gallans of heating oil futures per Hundredweight of milk — rather than a plain count.
Worked example, live prices: $16.63 ÷ $4.39 = 3.788. The inverse is 0.2640.
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 milk to heating oil futures ratio today?
The milk to heating oil futures ratio is 3.788 — Milk at $16.63 per Hundredweight divided by Heating Oil Futures at $4.39 per Gallan, from live mid-market prices.
How do you calculate the milk to heating oil futures ratio?
Divide the milk price per Hundredweight by the heating oil futures price per Gallan. If the two units differ, the result is a rate rather than a plain count — read it as Gallans of heating oil futures per Hundredweight of milk.
What is the inverse of the milk to heating oil futures ratio?
The inverse, heating oil futures to milk, is 0.2640 — how many Hundredweights of milk one Gallan of heating oil futures buys.