Dairy industry report | H2 2026
Dairy industry report: EU milk supply is strong. Know what that means for your H2 costs.
Download Vesper’s dairy industry report for a clear view of the European dairy market in H2 2026.
European raw milk production carried strong momentum through 2025 and into 2026, with the seasonal flush expected to deliver significant volumes through Q1 and Q2.
But composition matters as much as volume: milk fat and protein levels in key producing countries are running significantly above historical averages, pushing effective output of butter, cheese, and powders higher than raw production figures suggest.
This dairy industry report covers 13 European dairy categories, from raw milk through powders, cheeses, butter, and energy, helping buyers understand where supply pressure may affect prices and negotiations.
Download the dairy industry report
"Even at similar fluid milk volumes, the actual output of butter, cheese, and powder products is higher than raw production numbers might suggest. Compositional strength adds to the supply pressure facing dairy product markets."
Jasper Endlich
Dairy Analyst, Vesper
What this dairy industry report reveals
The Netherlands and Ireland are showing very strong milk composition this season, with fat and protein content running significantly higher year-on-year. Liquid prices are already very low before the flush kicks in.
For dairy buyers planning H2 purchases, this dairy industry report explains where supply pressure is building, which categories may feel it most, and how those shifts could affect purchasing decisions.
Want to check the dairy data on the spot?
Use Commodity Copilot alongside the dairy industry report
Commodity Copilot is an AI analyst built into Vesper. Ask it anything about the dairy ingredients covered in this report: current prices, forward views, supply and demand drivers.
You get an immediate answer drawn exclusively from Vesper’s verified database of prices, forecasts, and expert analysis. Every answer includes full source citations, so you can follow the reasoning and use it with confidence in your purchasing decisions.