EU wholesale prices

Updated 12 June 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 May, wholesale price movements of dairy products in Europe were mostly downwards, with whey recording the largest decline. Milk deliveries in March were estimated to have declined by 0.4% year-on-year. Production levels were at peak, but Bluetongue reported in some regions of the continent have driven down supplies and deliveries are variable across Europe.

Butter prices were 0.8% lower month-on-month but still recorded a significant increase of 21.8% year-on-year. Overall supply remained tight and despite increases in seasonal milk production, milk collection volumes varied largely between countries. Demand remained firm.

SMP prices were marginally down by 0.3% month-on-month in May. Demand was reported to be steady. SMP prices remained competitive on the global market.

WMP prices remained stable month-on-month but increased 18.1% compared to previous year. Limited production added to the steady tone of the market. Export demand dripped slightly following strengthening of the Euro while European demand was stronger.

The average cheese price remained relatively flat this month, recording a marginal 0.1% decline. Cheddar and Edam prices increased by 0.1% and 0.3%, respectively. Meanwhile, Gouda (-0.2%) and Emmental (-0.6%) declined.

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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