EU wholesale prices

Updated 20 February 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 January, EU dairy wholesale prices saw mixed movements across categories, month-on-month. Whey and cheese prices saw the largest increases, while butter has seen the largest decrease in price. Powders saw minimal change. Milk production volumes began to improve as the spring flush approaches.

EU butter prices decreased by 3.7% month on month in January to average €7,408 per tonne. The price of butter has been easing since November, following nine months of price increases. Industry sources report weakened retail demand in January. However, demand for bulk butter remain elevated and stocks are said to be lower than this time last year.

SMP prices decreased by 0.5% compared to the previous month. Industry sources report quieter demand with lower exports due to the Chinese New Year. The foot and mouth outbreak in Germany has also led to a reduction in export activity.

WMP prices remained stable month-on-month. Industry commentary describes continued weakness in demand. WMP production has remained light despite seasonal increases in milk production.

The average cheese price increased by 1.2% month on month. Cheddar saw a significant increase of 8.0%, while the price of Edam declined by 1.95. Gouda and Emmental saw marginal decreases.

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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