EU wholesale prices

Updated 15 May 2024

An overview of how the dairy markets are moving in the EU. Price series comparing average EU wholesale prices of butter, SMP, WMP and cheese. They are updated on a monthly basis.

In April, wholesale prices of dairy products in Europe had seen small levels of increase, apart from SMP and whey markets which remained subdued. February cows' milk deliveries were estimated to have increased by 3.0% year-on-year. In March and April, deliveries have been reported as variable across Europe, with recent reports of total volume plateaus indicating the seasonal peak is nearing. of the seasonal peak. In a bid to secure supply, some announcements have been made for an increase in milk prices for May.

Butter prices were up 1.9% month-on-month and recorded a significant increase of 22.1% year-on-year. According to industry sources, butter inventories are reported to be tight, as there is reluctance to pay warehouse charges for holding bulk butter. Buyer enquiries have relaxed since the spring holiday but demand for retail packaged butter remains strong.

SMP prices however, declined 2.0% month-on-month in April. The same trend is seen year-on-year with a decline of 1.1%. Industry contacts report low opportunities for new exports. Healthy inventories paired with low demand has slowed production.

WMP prices moved up by 1.0% on the month and year-on-year prices have increased 6.7% compared to last year. Production was reported to be sufficient to meet buyer demand, although export demand has remained quiet.

The average cheese price moved up 0.7% in April, the fifth consecutive monthly increase. However, year-on-year the price was down 5.2%. Edam was the only product to see a price decline this month, albeit marginal at 0.9%). Marginal price increases were seen in Cheddar (0.8%) and Gouda (0.1%) while Emmental recorded stronger growth, up 2.3% month on month. resulted in the overall average price increase.

Please note that prices can vary markedly within each market sector: the prices above are intended to give a guide to trends in price changes, but the absolute values experienced in the market place may differ from those shown.

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