EU Wholesale Prices

Published 9 October 19

Movements on EU wholesale markets were relatively positive during September, with price rises recorded across all products. SMP firmed the most over the month, while cheese prices, on average, saw only a marginal increase.

Butter prices increased in September for the first time in over a year. The seasonal slowdown in milk production and higher cream prices likely supported prices. Additionally, demand was reportedly strong, particularly for packet butter.

Skimmed milk powder (SMP) markets also moved up during September. Lower than anticipated stocks supported buying interest. Export interest was also reportedly strong, as EU product continues to remain competitive at a global level. Reports suggest production was already committed to contract sales, and so there was limited product available on the spot market.

Whole milk powder (WMP) markets also firmed during the month. Prices were supported by higher cream prices and strong internal demand. Manufacturers reportedly prioritised meeting internal needs, and so export interest was limited.

Cheese production was reportedly lower than planned, due to lower than expected milk production earlier in the season. Demand was reportedly good, from an industrial, retail and export perspective. Production was focused on fulfilling contracts, with very limited stock available on the spot market. 

Overall, cheese markets remained relatively flat on the month. Emmental prices fell by €55/tonne on the month although this was offset by a rise in Edam, Gouda and Cheddar.

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.