EU Wholesale Prices

Published 12 June 19

Wholesale markets were mixed in May with availability being an important factor in price movements. Lower production of milk powders and higher exports led to tight supplies. This was particularly the case for SMP, pushing prices higher. Butter production has been more stable and, with reported limited interest from buyers, prices have fallen.

Good demand for SMP, for both domestic use and export, has helped to keep prices up.  This is supported by tight supplies and EU prices remaining competitive on global markets. WMP prices also increased, though by a smaller amount than SMP. Though availability is not as tight for WMP, there are some expectations of short supply later in the year, encouraging sellers to not rush into discounting. 

Conversely to SMP and WMP, whey prices fell during May, though it is still at a higher price than last year. The global demand for whey is being affected by the reduction of demand from China due to its African Swine Fever situation.

Market reports suggest buying interest for butter is low with few deals taking place. Butter production is fairly level with last year and exports are down slightly, suggesting good availability on the market. Prices are reported as quite varying too so more ‘shopping around’ for the best deal.

On average cheese prices decreased marginally during May, led by lower Cheddar prices.  Edam and Gouda prices were flat and Emmental was up 0.1%, while Cheddar prices dropped 1.8% to €3,154 per tonne. The decrease in Cheddar could be in part due to people holding high stocks after the much higher trade in the first quarter of the year, before the original Brexit date.

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.