EU wholesale prices

Updated 21 November 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 October, EU dairy wholesale prices were mixed across categories, with cheese and butter prices increasing on the month, whilst powders and whey experienced declines. Milk volumes have continued to show a seasonal decline, and production has been varied throughout Europe. Increased rainfall has started to alleviate some of the drought conditions, though supplies are still strained.

EU butter prices increased by 1.9% month on month to October, averaging €7,764 per tonne. This marks the ninth consecutive month of price increases, although looking forward to November there are signs that prices have now peaked. Industry sources continued to report low butter stocks and production as elevated cream prices continued. Strong retail demand continued for butter, despite heightened prices.

SMP prices decreased by 2.2% compared to the previous month. Inventories have been sufficient to meet lacklustre demand, and additional production has remained limited.

WMP prices decreased by 2.9% on the previous month, after a period of upwards movement. Inventories remain lower but were adequate to meet weakened demand. Additionally, EU WMP prices have become less competitive on the international market.

The average cheese price increased by 3.5% month on month. Cheddar and Edam saw the largest gain, rising by 5.3% and 4.5% respectively, while Gouda and Emmental also experienced increases. Manufacturers continue to report tight supplies.

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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