EU wholesale prices

Updated 12 November 2020

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.

As of 1 February 2020 the MMO has 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.

EU markets were somewhat mixed in October, with different trends for fats and proteins. SMP, whey and cheese prices increased month-on-month. The WMP price was just above steady, while the butter price had a marginal decline.

Butter markets were mixed in October. Demand for packaged butter was strong, but bulk butter markets were slow, with buyers uncertain about committing to new contracts. This is also linked to lower demand from a restricted foodservice sector and subsequent increase in retail demand. The overall effect was a marginal decline on the month.

After a small lift at the start of the month, SMP prices were stable through October, leading to a slight increase on September overall. Increased export demand and active spot market interest were said to have supported prices.

Activity on WMP markets in the month was described as calm and constant by some reports. While most EU WMP supplies internal demand, export interest has been higher. Since producers were easily able to increase production to satisfy this demand, it did not drive up prices.

All cheese prices rose on the month, supported by good demand. Foodservice demand was better than expected but still lagged behind in-home demand, and by extension retail. Export interest remained strong.