Commodity ratio · live
Milk to Nickel Futures Ratio
The milk to nickel futures ratio is 0.0009780 — Milk at $16.63 per Hundredweight divided by Nickel Futures at $17,004.63 per Metric Ton.
Prices as of Aug 24, 2026, 10:35 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Milk to Nickel Futures ratio
1.000 Cwt of milk = 0.0009780 T of nickel futures
Inverse (NICKEL-FUT/MILK): 1023 — one Metric Ton of nickel futures buys that much milk.
Close to the middle of its 1 year range. (57th percentile of the last 1 year)
Milk
$16.63
per Hundredweight
Nickel Futures
$17,004.63
per Metric Ton
Unit basis: USD per Hundredweight ÷ USD per Metric Ton. The ratio reads as Metric Tons of nickel futures per Hundredweight of milk. Prices as of Mon, 24 Aug 2026 10:35:41 GMT.
1Y average
0.0009852
median 0.0009485
1Y low
0.0007706
Jan 27, 2026
1Y high
0.001200
Nov 21, 2025
Normal band
0.0008729–0.001098
mean ± 1 std dev
Deviation from mean
-0.06σ
363 observations
Milk to Nickel Futures ratio charts
Pick a range once — it applies to the MILK/NICKEL-FUT ratio line, the OHLC candles and the Milk / Nickel Futures price chart below.
MILK/NICKEL-FUT ratio line
How many T of Nickel Futures one Cwt of Milk buys, over 1Y.
MILK/NICKEL-FUT ratio candles
Open, high, low and close of the MILK/NICKEL-FUT ratio for each period in the last 1Y.
Milk and Nickel 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 nickel futures ratio
Milk to Nickel Futures ratio = Milk price per Hundredweight ÷ Nickel Futures price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of nickel futures per Hundredweight of milk — rather than a plain count.
Worked example, live prices: $16.63 ÷ $17,004.63 = 0.0009780. The inverse is 1023.
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 | 4647.62 |
| 2 | XAG | Silver | 69.00 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.75 |
| 5 | NG-FUT | Natural Gas Futures | 2.77 |
| 6 | PL | Platinum | 1885.63 |
| 7 | PA | Palladium | 1351.00 |
Frequently asked questions
What is the milk to nickel futures ratio today?
The milk to nickel futures ratio is 0.0009780 — Milk at $16.63 per Hundredweight divided by Nickel Futures at $17,004.63 per Metric Ton, from live mid-market prices.
How do you calculate the milk to nickel futures ratio?
Divide the milk price per Hundredweight by the nickel futures price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of nickel futures per Hundredweight of milk.
What is the inverse of the milk to nickel futures ratio?
The inverse, nickel futures to milk, is 1023 — how many Hundredweights of milk one Metric Ton of nickel futures buys.