EU wholesale prices

Updated 20 November 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 October, wholesale prices of dairy products in Europe declined for all products, with the exception of whey. Milk production is now surging ahead on the continent after a period of decline following Bluetongue in some of the major milk producing countries like Germany, the Netherlands and Belgium.

Butter prices saw another month of sharp decline, by 9.6% month-on-month. Higher butter production and milk volumes, paired with lack of good export demand due to uncompetitive prices globally, weighed on sold prices.

SMP prices fell by 5.2% month-on-month in October. Increasing milk deliveries resulted in more production, but export demand is said to have seen some strengthening , thereby limiting downside movement.

WMP prices dropped by 10.3% month-on-month. Production remained in line with increasing milk deliveries whilst demand remained subdued.

The average cheese price declined by 2.1% in October. Emmental (-0.5%), Gouda (-4.0%), Edam (-3.6%) and Cheddar (-0.8%), all contributed to the overall decline.

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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