European milk prices fluctuated as butter prices continued to fall
The European average base price for standard milk, before bonuses, reached €38.20 per 100kg in June, according to Dutch analysts ZuivelNL. That was €0.05 higher than in May. Once bonuses were counted, the average amount paid by processors fell by €0.10 to €40.04 per 100kg, following the first monthly increase in almost a year in May.
The comparison with earlier years remained negative. The June average was €10.31 per 100kg below the level recorded in June 2025 and €4.86 below the figure for June 2024. ZuivelNL was established in 2014 by the Dutch Dairy Organisation and the Dutch Federation of Agriculture and Horticulture to monitor milk-price movements across Europe. Its calculations use standard milk containing 4.2% fat and 3.4% protein, with specified bacterial and somatic-cell counts, and exclude VAT.
All three Irish co-operatives included in the survey were below the European average before bonuses. Dairygold recorded the highest Irish base price at €37.28 per 100kg, up €0.51. Tirlán paid €36.97 and Kinisla €37.22; neither changed its base price during the month.
Several processors elsewhere raised prices. Belgium’s Laiterie des Ardennes increased its figure by €0.50 to €35.25 per 100kg, citing improved fat and protein prices amid strong competition for milk in Belgium. Danone’s Pas de Calais operation lifted its base price by €0.78 to €42.87. Its A-milk price is calculated using market indicators for half of the change and farm cost developments for the other half.
Emmi recorded the largest increase in the survey, of €5.51, reaching €70.40 per 100kg after a negative seasonal premium was removed. German processor DMK Deutsches Milchkontor reduced its June price by €1.99 per 100kg. The reduction followed the start of its merger with Arla in May 2026. New Zealand’s Fonterra also lowered its forecast milk price for 2026; its June price fell by €1.96 to €35.30, with exchange rates playing a significant role in the calculation.
ZuivelNL highlighted a fall in Irish milk deliveries in May, in contrast with an overall increase across Europe. In June, a heatwave across the continent caused a sudden but temporary decline in milk output. The report said that the subsequent improvement in output contributed to a small increase in the butter price. High milk stocks and limited demand, however, did not support further gains, and butter prices declined again during the month.
Global Dairy Trade data showed butter at €4,530 per metric tonne in its early-August auction, 24% below the February peak of €5,983. The same auction put anhydrous milk fat at €5,520 per tonne, down 0.8%; buttermilk powder at €3,438, down 2.8%; and cheddar at €3,227, up 3.8%. Lactose rose 4.1% to €1,543, mozzarella increased 1% to €3,461, skimmed-milk powder gained 1.2% to €2,827, and whole-milk powder was listed at €3,019, a 0.2% change.
