EU wholesale prices

Updated 15 May 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 April, wholesale price movements of dairy products in Europe declined across the board, with SMP recording the largest decline. Milk deliveries in February were estimated to have declined by 2.3% year-on-year. Seasonally the market is approaching towards peak production. Bluetongue reported in some regions of the continent have driven down supplies and deliveries are variable across Europe.

Butter prices were marginally down 0.1% month-on-month but recorded a significant increase of 28.3% year-on-year. Overall supply remains tight, however buyers remain hesitant to purchase around higher levels. According to industry sources, buyers are purchasing to cover immediate requirement and are not interested in long-term cover. The strengthening of the Euro is weighing on butter exports.

SMP prices were 2.0% lower month-on-month in April. Production is steady, in line with higher seasonal milk production. Demand remained steady to quiet during holiday season. Exports saw a decline amid strengthening of the Euro making SMP globally less competitive.

WMP prices moved lower by 0.1% month-on-month but increased 20.7% compared to previous year. Production remains limited in line with contract fulfilment. Strengthening Euro dampened market sentiment.

The average cheese price decreased by 0.1% in April, the second consecutive monthly decline. However, year-on-year prices posted a gain of 10.7%. Emmental was the only product to witness an increase this month (1.8%). Cheddar saw a significant decline of 2.2%. Marginal decline of 0.7% was seen in Gouda while Edam remained mostly flat month-on-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.

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