EU wholesale prices

Updated 18 June 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 May, dairy product wholesale prices in Europe mostly trended upwards, apart from cheeses which were more varied. Milk production reached its seasonal peak in May for many countries in western Europe, with eastern European countries expecting to peak over the coming weeks, with industry sources suggesting that although deliveries are looking higher in year on year comparisons, we are annualising against weak production years. Reports suggest that milk prices in Europe have been supported, with processors looking to secure supplies from their existing farmers and pick up any additional available milk, perhaps in anticipation of tightening supplies later in the year.

European butter prices were up 4.3 % on the month and up year on year by a significant 27.8%. Inventories are tight and demand from various sources has supported market prices. In retail, the spring holidays, promotions, and the start of the asparagus season have all given support to the market. In the bulk butter sector, buyers are reportedly active, looking to secure supplies for the coming summer months.

SMP prices in Europe were up 1.2% in May, compared to the previous month. However, this is a year on year decrease of 1.4%. Reports suggest that demand, particularly from within Europe, has picked up considerably as buyers look to cover Q3 needs ahead of the summer holidays.

WMP prices moved up 2.2% on the month and showed an uplift of 6.6% on the same point of the previous year, in May. Whilst production is mainly focussed on fulfilling existing orders, there has been some increase seen in demand as more end users make enquiries, supporting prices.

The average cheese price in May showed a slight decrease on the previous month, down 0.4%. Looking back at the same month last year, the price was down 1.4%. Emmental was the biggest driver for this decrease, down 1.3% on the previous month. Cheddar and gouda were steadier, both recording a minor price decrease of 0.1%, whilst edam was up 0.4% on the month.



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

EU wholesale prices

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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. 

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