Commodity ratio · live
Milk to Steel Ratio
The milk to steel ratio is 0.005424 — Milk at $16.63 per Hundredweight divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:32 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Milk to Steel ratio
1.000 Cwt of milk = 0.005424 T of steel
Inverse (STEEL/MILK): 184.4 — one Metric Ton of steel buys that much milk.
Close to the middle of its 1 year range. (62th percentile of the last 1 year)
Milk
$16.63
per Hundredweight
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Hundredweight ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Hundredweight of milk. Prices as of Mon, 24 Aug 2026 10:32:08 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.005292
median 0.005257
1Y low
0.004627
Jan 28, 2026
1Y high
0.005903
Aug 31, 2025
Normal band
0.004994–0.005591
mean ± 1 std dev
Deviation from mean
+0.44σ
318 observations
Milk to Steel ratio charts
Pick a range once — it applies to the MILK/STEEL ratio line, the OHLC candles and the Milk / Steel price chart below.
MILK/STEEL ratio line
How many T of Steel one Cwt of Milk buys, over 1Y.
MILK/STEEL ratio candles
Open, high, low and close of the MILK/STEEL ratio for each period in the last 1Y.
Milk and Steel 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 steel ratio
Milk to Steel ratio = Milk price per Hundredweight ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Hundredweight of milk — rather than a plain count.
Worked example, live prices: $16.63 ÷ $3,066.00 = 0.005424. The inverse is 184.4.
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 steel ratio today?
The milk to steel ratio is 0.005424 — Milk at $16.63 per Hundredweight divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the milk to steel ratio?
Divide the milk price per Hundredweight by the steel 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 steel per Hundredweight of milk.
What is the inverse of the milk to steel ratio?
The inverse, steel to milk, is 184.4 — how many Hundredweights of milk one Metric Ton of steel buys.