EU wholesale prices
Updated 13 February 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.
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.
- There were mixed movements in the EU wholesale markets in January. SMP, whey and cheese prices were up on December, while butter and WMP prices were marginally down.
- Butter prices went up at the very start of the month, with an active spot market supporting prices. However the uplift was short lived and prices drifted down afterwards, leading to a marginal month-on-month decline overall.
- There was renewed interest in skimmed milk powder (SMP) as EU buyers returned from Christmas holidays, pushing prices up through the month. There is a belief that stocks are lower after strong domestic and export demand in 2019. Reports suggest a number of buyers are expecting SMP prices to firm and so are buying now.
- The increased buying interest for SMP was not reflected in the whole milk powder (WMP) markets, which were calm. Prices dipped around the New Year and although they recovered somewhat after, the overall average was slightly down on December.
- Demand for cheese picked up in early 2020. Reports suggest exports were high at the end of 2019 and customers now want to rebuild stocks. All reported cheese prices were up on the month.
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.