EU wholesale prices
Updated 15 January 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.
Movements on EU wholesale markets were positive during December, with price rises recorded across all products. SMP markets firmed the most over the month, while butter and cheese price increases were marginal.
Butter prices edged up on the month, supported by good internal demand, particularly for packaged butter ahead of the festive period. Reports suggest that manufacturers relied on cold stocks in order to meet demand, although supplies remain sufficient as good cream availability kept churning active.
Skimmed milk powder (SMP) markets continued their upward trend in December, supported by tight supplies. With most production already committed, buyers with immediate needs reportedly paid surcharges, which boosted spot prices. Export demand is said to be strong, despite prices tracking above the US.
Whole milk powder (WMP) markets also firmed this month. Increased baking activity ahead of the festive season led to buyers competing for product on the spot market, which supported prices. Export activity was reported as limited however, with prices tracking above Oceania.
Overall cheese prices increased marginally on the month. Gouda and Edam prices increased considerably on the month, by €86/tonne and €32/tonne respectively. While Cheddar and Emmental prices increased more modestly on the month, both these varieties have seen prices increases in recent months.
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.