EU wholesale prices
Updated 13 January 2021
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.
During December, European wholesale markets remained fairly stable, with minimal price movements across most commodities and, in general, slight increases in price on the previous month. Butter prices did buck this trend however, with a 2.7% reduction in price on November.
There was a quieter period of demand for Butter during the festive period, although sales do appear to be returning in strength moving into the New Year. Many manufacturers have been focusing on packaged butter in response to the increased retail demand, whilst consumers continue to cook at home. Despite this, there have also been reports in some plants of increased sales from bulk butter.
Prices have improved for SMP during December across Europe. Decent trade in the spot market has led to an increased level of exports. The range of prices for SMP has widened recently with strong trade at the top end, but also declines at the lower end of the market. Both buyers and sellers are beginning to look further forward and focus on the Q2 contracting period. However, stocks of food grade product are reportedly low, which also provided price support.
Some minimal price increases for WMP were seen during December, as the lower end of the market tightened to help support the overall price. Supplies were also reported as tighter. As such, the focus was on contracted sales with less spot sales.
Strong milk supply remains across Western Europe, which has helped to fill any necessary demand requirements. European manufacturers of Cheese have been focusing on retail markets with limited demand for foodservice sector due to COVID-19.
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.