The rise in EU butter stocks in the second quarter was primarily due to higher production resulting from increased milk volumes. This occurred despite a significant rise in exports of 39.7 per cent (28,000 tonnes), which partially limited the build-up of stocks.

Cheese stocks rose in the second quarter due to increased production and rising imports. In addition to milk deliveries, milk components also continued to rise, contributing to higher production. Exports rose by 6.5 per cent (23,300 tonnes) in the reporting period compared with the same period last year.  Available cheese volumes rose by 2.9 per cent (65,200 tonnes) in the second quarter compared with the same period last year.

SMP volumes fell by a significant 20.2 per cent in the second quarter of 2026 compared with the same period the previous year. Production remained stable, whilst imports fell by 8.4 per cent compared with the same period the previous year. Significant export growth of 22.2 per cent compared with the same period the previous year rounded off the overall supply.

WMP production rose by 2.2 per cent in the second quarter of 2026, in line with the increase in milk deliveries. Exports increased in the second quarter as prices on world markets were competitive compared with those in the US.