# EU Dairy Prices 12 November 2026: Butter, SMP, WMP, Whey and Cheese Benchmarks

> The European Commission's Milk Market Observatory reported EU average dairy benchmarks, with butter at 403 EUR/100kg, skimmed milk powder at 354, whole milk powder at 385 and whey powder at 185. Year-on-year, butter and whole milk powder rose sharply while skimmed milk powder fell 27%.

- Date: 2026-11-12 · published 2026-11-13T18:16:06.708Z
- Category: market · region EU · magnitude low
- Page: https://feedsoft.ai/events/98176-eu-dairy-prices-12-november-2026-butter-smp-wmp-whey-and-cheese-benchmarks
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Dry Whey](https://feedsoft.ai/c/WHEY.md), [Nonfat Dry Milk](https://feedsoft.ai/c/NFDM.md)

## Why it matters

Diverging powder prices point to firm fat and whole-milk demand but weaker SMP, which affects protein-based feed ingredients and dairy-derived feed costs. Whey at 185 EUR is a relevant input for feed formulators.

## Read by commodity

- MILK: neutral
- NFDM: bearish ▼
- WHEY: neutral

## Sources

- indexbox.io: https://www.indexbox.io/blog/eu-dairy-commodity-prices-milk-market-observatory-report-dated-12-november-2026/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.