Market news - CW 3/2026 (as at approx. January 13, 2026)
EU currentprices & trends
Current EU average prices (until the weekend 11.01.2026) show
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Butter: approx. 427 €/100 kg (down on previous week)
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SMP: approx. 206 €/100 kg (slightly down)
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WMP: approx. 304 €/100 kg (slightly down)
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Cheddar: approx. 376 €/100 kg (down on the previous week)
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EU farm-gate price: approx. 50.3 ct/kg (November 2025), estimated 49.4 ct/kg for December 2025.
This data shows continued downward movements in most major segments, with relatively stable but declining raw milk price trend.
Protests & production pressure
In Germany, numerous dairy farmers demonstrated with tractors in front of the Ministry of Agriculture in mid-January 2026 to protest against the drastic drop in milk prices. According to reports, producers are currently only receiving around 34 ct/L, well below production costs.
Raw milk market - supply dynamics
Market comments show that milk supply in the EU is above the level of previous years, which is increasing supply pressure. December data indicates that milk volumes remain high, which is depressing spot prices and farm-gate prices.
Price movements for dairy products - GDT
According to market trends, at the first Global Dairy Trade (GDT) auctions in early January 2026, the price index recovered somewhat after falling in 2025 - the index rose by around 6.3% compared to the December tender, with price increases in several product groups.
Market sentiment & analysis
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Foodcom / Global Report: The global market started 2026 with oversupply and low prices, and 2026 is described as a year of market stabilization and restructuring.
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Milk Marker Index (MMI): A recent publication reports that milk production costs have risen while farm-gate prices have fallen → the profitability of many farms is in shortfall.
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Spot market prices: In Northern and Western Europe, spot milk prices are often below €0.40/kg (e.g. Kiel raw milk value approx. €0.305/kg), indicating structural supply surpluses.
ZMP Live Expert Opinion
The long-term downside risks continue to dominate the dairy market, driven by overproduction, falling spot and farm-gate prices and costs that exceed revenues in many places. At the same time, there are initial slight bullish signals (e.g. GDT recovery, sub-segment demand, export stability), which could have a stabilizing effect in the medium term if they continue.
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Short term: Continued price pressure - especially for fat and powder products.
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Medium-term: Chances of stabilization if demand stimuli come from export segments and functional products.
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Producer perspective: Underfunding of many farms indicates structural burdens - adjustment processes or political interventions may be necessary.
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