The price of average milk at real contents (all segments combined) jumped in the 27-member European Union between September and October 2024. It gained 21 euros per tonne to settle at €517.1/t, according to the Milk Market Observatory of the European Commission. It is well above its level in October 2024, when it showed €443.4/t. Germany, Ireland and even Poland significantly push this price upwards. FranceAgriMer estimates that this general increase in the price of milk is partly due to that in the price of butter.
The European Commission anticipates a further rebound in the average milk price in November 2024, which could rise to €523.3/t.
On the organic side, the average price of milk with real contents is also on the rise in the EU 27. It reached €580/t in October, an increase of 17 euros compared to the month of September.
Less strong increase in France
In France, the Milk Market Observatory records an increase of 4.5 euros in the price between September and October 2024, which stands at €488.1/t. It fell below the European average last August. The price of French milk has been rising again since June, after a slight continued decline over the first half of 2024.
The average price of milk could continue to rise in France, with an estimate of €506.20/t for the month of November by the European Commission. As a reminder, this is the average price paid to producers, including conventional, organic and PDO milk.
Among our European neighbors, the main milk producers have passed the €500/t mark. In Germany, the price of milk (all qualities) stood at €527/t in October. The Netherlands recorded a milk price of €535/t, Italy €528.5/t, Poland €517/t. Ireland had one of the highest prices among the EU 27 countries in October, at €621.5/t.
Butter still on the rise
On the fat market, the European price of butter continues its steep rise that began in the last quarter of 2023. It had passed the barrier of €6,000/t at the end of May, then that of €7,000/t at the end of August. It is now close to €8,000/t, settling at €7,890/t at the last European quotation on December 8, 2024. Tensions on European dairy resources are pushing prices upward.
For its part, the price of lean powder increases over the last months of 2024. The latest quotation indicated €2,590/t on December 8, 2024.
