EU wholesale prices

Updated 16 April 2025

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 March, wholesale price movements of dairy products in the EU were mixed, with butter and WMP prices on the increase, whilst SMP and average cheese prices declined. Milk deliveries on the continent have been seasonally picking up but remain down year on year. According to the latest deliveries data, January milk deliveries in the EU are estimated to have declined by 0.3% year-on-year.

EU butter prices increased by 2.1% month on month in March to average €7,369 per tonne. Industry sources report that butter availability remains very tight, and butter demand is strong.

SMP prices decreased by 1.7% compared to the previous month. Industry sources report mixed demand with lower exports due to foot and mouth disruption and strengthening of the euro making SMP less globally competitive. Production has also subsided in response to lacklustre demand.

WMP prices saw a marginal 0.4% increase month-on-month. Industry commentary describes some strengthening of demand but limited export activity due to foot and mouth disease and strengthening of the euro. WMP production has been variable with more milk volumes being diverted towards fats.

The average cheese price decreased by 1.7% month on month. Cheddar saw a significant correction of 4.2%, following a steep increase the month prior. Meanwhile the price of Edam, Gouda and Emmental saw smaller declines.

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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