UK wholesale prices

Updated 25 July 2025

Indicative average prices for butter, skimmed milk powder (SMP) and mild Cheddar cheese on UK wholesale markets. Bulk cream prices are weighted average prices on agreed trades within the reporting period. Product specifications are available to download at the bottom of the page.

Sun and sport support cream prices

Weeks 26-30 (23 June 2025 to 27 July 2025)

As the summer holiday period kicks in across the UK and Europe, market activity was universally noted to be quiet. 

Bulk cream has seen a monthly average price increase of around £120/t. Prices began the period at £2.80/kg but have since eased to around £2.70/kg. Some commentators noted that the combination of hot sunny weather and a bumper strawberry crop coinciding with the Wimbledon Tennis Championship helped to provide additional demand for cream compared to other commodities. 

Butter prices were relatively stable month on month, easing by just £10/t, and remaining within a tight range. Prices in Europe are recorded to be declining, putting some pressure onto UK butter as it now trades at a premium. Trading is being done on a hand to mouth basis with some stock balance still tight.

SMP remained stable, average prices eased just £10, back to where they sat in May. Demand was very quiet, but all commentators agreed that this was expected with the time of year. Some stock is starting to build with production gaining from higher milk solids.

Mild cheddar also saw little change month on month, with the average price easing by just £10/t. Demand was seasonally quiet with little volume traded.

The published prices will not necessarily match the overall actual price achieved by a milk processor as this will depend, amongst other things, on the proportion of product that is sold on the spot market and the proportion sold under longer term contracts and at what price this is done. The “average” prices should be used to track trends while the commentary will contain prices seen through the month.

Note there has been a change in the methodology for determining the bulk cream price from January 2021.

Information on prices and market conditions is gathered through a monthly phone survey of dairy product sellers, traders and buyers. Panel discussions cover ex-store prices on spot trades agreed within the reporting period and delivered within a maximum of 2 weeks for bulk cream and 6 weeks for butter, SMP or cheese. 

For butter, skimmed milk powder (SMP) and mild Cheddar, prices are indicative of values achieved for spot trades and exclude contracted prices or forward sales.

For bulk cream, a weighted average price will now be reported. This is based on submissions of an average price for agreed spot trades made within the reporting period along with total volumes traded. Data is entered by panel members via the AHDB online wholesale price portal.

Prices for bulk cream were not weighted by traded volumes prior to January 2021. 

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