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EU wholesale prices

Updated 10 March 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.

Overview

  • EU wholesale markets were mixed in February, with butter prices down, whey prices up, and marginal movements for milk powders and cheese prices.
  • Butter sales were reported as active in February, as bulk buyers sorted out Q2 contracts alongside spot purchases, and retailers were re-stocking packaged butter. However, stocks were deemed sufficient for demand, and milk production in the EU is generally good. Without concerns for supply, prices moved down 2% on January.
  • A wait-and-see attitude is said to have developed on the skim milk powder (SMP) markets through February. Prices declined in the latter half of the month from the relatively high levels at the start. The overall average for February therefore only fell 0.7% on January. Some buyers are reported to be holding off to see if the spring flush will bring down prices. Others are waiting to see if the disruption caused by the coronavirus situation in China will further soften prices.
  • Whole milk powder (WMP) markets were described as calm with somewhat low buying interest. Prices were at a premium to Oceania, making EU sourced product less attractive to international customers; most WMP is going to customers within the EU.
  • Cheese markets were steady to rising, with Cheddar, Edam and Emmental up on the month and Gouda steady. There was good demand reported for both internal and export markets, with output having to work hard to keep up.


Additional information

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.

Download dataset

EU wholesale prices