EU Wholesale Prices

Published 14 August 19

The EU wholesale markets were relatively quiet in July as is typical during the summer holiday season. Further price reductions were seen in butter, WMP and whey. SMP and cheese prices, on average, remained fairly static. Most demand was covered by previously contracted product, with minimal spot market trading.   

European butter prices weakened slightly in July and there was very little buying activity reported. Milk was still being processed to fill contracted demand, but there was little new export interest.  Buyers were not desperate for product as most demand was already met, although some purchases were made when the price was right.

SMP prices were steady overall. Manufacturers were focussed on settling existing contracts rather than looking for sales, suggesting sufficient demand and little stock building.

WMP prices in July were lower, though firming to the end of the month. Not much spot demand was reported, with current needs covered by existing contracts. Historically, the EU is more focussed on internal demand than exports with little need for expansion as better returns from other products divert milk away from WMP. Overall, market conditions were described as calm.

Whey prices fell further in July, with the reduced demand from China due to ASF still taking its toll.

Average cheese prices were flat with the markets described as balanced. There was a small increase in the price of Emmental, which balanced out the slight decrease in price for Edam and Gouda.   

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.