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EU wholesale prices
Updated 19 September 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.
Monthly overview
In August, EU dairy wholesale prices increased across all categories, with butter prices experiencing the greatest growth. While EU milk supplies have generally been strong in the first half of the year, seasonal milk decline and robust demand has helped support prices even further recently. Concerns over future supplies and the threat of Bluetongue spreading further East are rising. However, forecasts of a favourable milk price relative to feed in the EU may incentivise greater production into Q4.
EU butter prices increased 6.4% in August, averaging €6,979/tonne. This marks the seventh consecutive month of price increases and the highest price seen since October 2022. It has not quite hit the peaks seen in Spring/summer 2022 as of yet. Industry sources report very low butter stocks, due to limited availability of cream. Additionally, demand for both block and retail butter has been strong.
SMP prices increased by 2.7% on the previous month, with reports of dwindling stocks. Uncertainty around milk production in the coming months has prompted more buyer enquiries as many return from summer holidays.
WMP prices moved up by 3.8% on the previous month, driven by tight milk and cream supplies, which increased production costs. This contrasts with the global market price, making EU WMP less competitive. Demand is reported to be stable.
The average cheese price increased by 1.4% month on month. Emmental and Edam saw the most growth at 2.7% and 1.7% respectively, while Cheddar and Gouda both continued to rise steadily. Manufacturers report tight supplies.
Additional information
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.
As of 1 February 2020 the MMO changed its data reporting to EU (excluding UK), including historic data back to January 2016. For historic EU-28 prices up to Dec 2019, please download the spreadsheet using the link below.
Download dataset
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While AHDB seeks to ensure that the information contained on this webpage is accurate at the time of publication, no warranty is given in respect of the information and data provided. You are responsible for how you use the information. To the maximum extent permitted by law, AHDB accepts no liability for loss, damage or injury howsoever caused or suffered (including that caused by negligence) directly or indirectly in relation to the information or data provided in this publication.
All intellectual property rights in the information and data on this webpage belong to or are licensed by AHDB. You are authorised to use such information for your internal business purposes only and you must not provide this information to any other third parties, including further publication of the information, or for commercial gain in any way whatsoever without the prior written permission of AHDB for each third party disclosure, publication or commercial arrangement. For more information, please see our Terms of Use and Privacy Notice or contact the Director of Corporate Affairs at info@ahdb.org.uk © Agriculture and Horticulture Development Board. All rights reserved.