Summary of the latest report from the European Milk Market Observatory (MMO) dated 5 November 2026:

The report highlights significant and divergent price trends for the main milk and dairy products in the European Union compared with the previous year.

Butter and powder prices are diverging
Butter: The average price of butter in the EU reached 406 EUR/100 kg, representing a sharp increase of 58 per cent compared with the previous year.

Skimmed milk powder: In contrast, the average price of skimmed milk powder fell to 341 EUR/100 kg, representing a decline of 29 per cent.

Whole milk powder and whey powder: Whole milk powder rose by 54 per cent to 385 EUR/100 kg, whilst whey powder rose by 8 per cent to 158 EUR/100 kg.

Falling prices in the cheese sector
Downward price adjustments also prevailed in the cheese segment:

Cheddar fell by 27 per cent to 322 EUR/100 kg.

Gouda recorded a fall of 16 per cent to 395 EUR/100 kg.

Emmental fell by 12 per cent to 553 EUR/100 kg.

Edam was quoted at 388 EUR/100 kg.