Dairy commodity prices have remained steady across European spot markets over the last week as trading for the autumn/winter months is yet to kick off in earnest. Market activity is reported to be quiet overall but trading should begin to accelerate over the coming weeks as we move into September.

Spot cheese prices across Europe remain unchanged in the last week but overall are in a healthy position. Spot prices for mozzarella and gouda are trading at €3,350/t and €3,200/t respectively, while cheddar is priced about €3,250/t ex-factory.

Butter prices eased slightly over the last week as negotiations continue between wholesalers and German supermarkets for the September/October retail butter price in Germany. A price close to €6,000/t is expected to be finalised.

On powder markets, the price of skimmed milk powder (SMP) has improved week on week over the last month and spot markets are now trading in the region of €1,600/t.