German exchange quotations: milk powder keeps climbing, while butter falls on the GDT and herds are producing more milk than a year ago.
On Germany’s dairy market, milk powder prices kept rising while butter held steady at the Kempten exchange but fell at the global GDT auction, Deutsche Molkerei Zeitung reports.
Butter and cheese in Kempten
On Wednesday 2 September, quotations at the South German Butter and Cheese Exchange in Kempten were unchanged. Packaged butter sold at €3.80–4.70/kg on good demand, and loose product again at €4.10–4.20/kg amid a quiet market.
Cheese quotations also held: Allgäu Emmental at €7.70–8.55/kg, and Emmental and square hard cheese at €4.70–6.40/kg (in place since early July), with very good demand across all types. In Hanover, cheese edged up again: Gouda and Edam block quotations rose 5 cents at the top to €3.35–3.55/kg, and «bread» format to €3.35–3.65/kg.
Powder, milk output and the GDT
Milk powder continued its uptrend, at times sharply. Skimmed milk powder (SMP), loose spray, feed grade, rose 20 cents at both ends to €3.04–3.09/kg; food grade to €3.13–3.225/kg; whole milk powder (WMP) to €3.75–3.85/kg.
Per the Bavarian milk producers’ association (VMB), citing BLE data, German milk deliveries in H1 2026 were 6.6% higher year on year, with fat up 6.2% and protein availability up 6.5% (average fat 4.13%, protein 3.41%), cumulative milk since the start of the year is 8.3% ahead.
On the GDT (auction of 1 September), butter fell 1.2% to €4,345/t — down nearly 27% since its 17 March 2026 peak — while SMP rose 5.5% to €3,193/t (up about 18% since its 7 July low), and WMP was little changed at €3,098/t.
Source: Deutsche Molkerei Zeitung
