Price trends & market pressure - Europe & Germany
Declining market prices in general
Current EU average data shows that dairy products remain under price pressure:
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Butter price in the EU was ≈ 461 €/100 kg in the week ending 14.12.2025, a significant decline compared to previous months.
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Prices for SMP (skimmed milk powder) are quoted at ≈ 202 €/100 kg (also declining).
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WMP (whole milk powder) and cheese processing values are also lower than a year ago.
👉 These figures reflect the continued pressure on prices for fat-containing products - a core problem of all current protests.
Strong competition in retail & price war
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Retailers are aggressively cutting butter and cheese prices, putting further pressure on wholesale prices in Germany.
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German wholesale quotes reported a price range of around €5.10 - €5.60/kg for butter in November - a significant drop compared to previous weeks.
Supply-demand imbalance
Market comments and industry analyses show:
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High milk supply in EU/Germany exceeds seasonal expectations.
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Demand, particularly in exports and out-of-home consumption, remains stagnant or weak.
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This leads to a classic supply surplus, which depresses prices. top agrar
ZMP Live Expert Opinion
The European dairy market is currently experiencing price and structural stress:
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Demand is not providing sufficient relief for the high supply - prices for butter, SMP and other processed products continue to fall.
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Trade tensions (e.g. EU-Mercosur) and protests are making the situation politically and economically sensitive.
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Bullish year-end impulses (season, functional milk segments) offer selective opportunities, but can only offset the broad downward trend to a limited extent.