EU wholesale prices

Updated 12 December 2024

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 November, EU dairy wholesale prices increased for most categories month- on-month. Whey prices saw the largest price increase, while powders and cheese also experienced rises. Butter saw some easing in price compared to October, though prices remain at very high levels. Milk volumes have reached seasonal lows in parts of Europe, and production has been varied.

EU butter prices decreased by 0.5% month on month in November, averaging €7,711 per tonne, following nine consecutive months of price increases. Uncertainty around price movements has reportedly caused hesitation in trading large volumes. Low butter production continues, and cream prices remain elevated. Strong retail demand continued for butter, despite heightened prices.

SMP prices increased by 2.5% compared to the previous month with industry sources reporting a rise in demand. Inventories and production levels have been variable across different countries.

WMP prices increased by 2.4% on the previous month as demand increased. However, more recent industry commentary suggests that this demand has since subsided. Production has been subdued as milk volumes are low and milkfat prices firm.
The average cheese price increased by 2.1% month on month. Edam, Gouda and Cheddar saw increases of 3.8%, 3.1% and 2.5%, respectively, while Emmental saw a small decline of -0.2%.

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.

While AHDB seeks to ensure that the information contained on this webpage is accurate at the time of publication, no warranty is given in respect of the information and data provided. You are responsible for how you use the information. To the maximum extent permitted by law, AHDB accepts no liability for loss, damage or injury howsoever caused or suffered (including that caused by negligence) directly or indirectly in relation to the information or data provided in this publication.

All intellectual property rights in the information and data on this webpage belong to or are licensed by AHDB. You are authorised to use such information for your internal business purposes only and you must not provide this information to any other third parties, including further publication of the information, or for commercial gain in any way whatsoever without the prior written permission of AHDB for each third party disclosure, publication or commercial arrangement. For more information, please see our Terms of Use and Privacy Notice or contact the Director of Corporate Affairs at info@ahdb.org.uk  © Agriculture and Horticulture Development Board. All rights reserved.