EU Wholesale Prices

Published 8 May 19

Wholesale markets were relatively stable in April, despite rising EU milk production. Demand across the board was dampened as buyers were hesitant ahead of the flush. Higher culling rates and lower quality feeds during the prolonged period of hot, dry weather last year limited growth in milk production across Europe, although supplies are recovering.

Butter prices were mixed among producing countries during April, but prices fell marginally on average. Most buyers are reportedly already covered with stocks and, with production increasing seasonally, this led to a lack of activity on the spot market. Contracting for later in the year is underway, though uncertainty around milk production in the second half of the year, and therefore cream availability, is making finalising contracts challenging. Export interest is reportedly slow, despite EU prices currently tracking below both US and Oceania markets.

Powder markets were relatively stable during April. WMP prices increased marginally on the month. Internal demand was focused on short-term needs and export interest also picked up during the month. SMP prices increased only slightly as stocks were described as ample for current demand Export interest increased, especially from the Asian markets due to a weaker euro.

On average, cheese prices decreased during April. Edam and Gouda prices remained relatively flat, increasing by 0.2% on the month. Meanwhile, Cheddar and Emmental decreased by 2% and 2.3% respectively.

EU Wholesale Table

Please see text above and notes below.

EU_wholesale _graph

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.