Expana to change assessment methodology for dairy

Following a period of market feedback, Expana has decided to increase the dairy assessment frequency from once a week (EMEA, Thursday) to twice weekly (EMEA Tuesday; EMEA Thursday). This change will take effect on Thursday, October 2nd, 2025.

The initial proposal was announced in a market note published on Friday, July 11, 2025, which can be viewed here.

The methodology change will affect the assessment frequency of the following assessments. For clarity, all other dairy assessments will remain unaffected.

J116 – Butter unsalted exw EU EBP

J117 – Skimmed milk powder MH exw EU EBP

BL131 – Sweet whey powder exw W EU EBP

J119 – Cheese Cheddar mild exw EU EBP

J114 – Cheese Gouda exw EU EBP

ED27 – Cheese Mozzarella exw EU EBP

Butter, skimmed milk powder (SMP), sweet whey powder, and cheese are central to the European Union’s dairy industry and play a critical role in the global dairy market. The EU is among the world’s leading producers and exporters of these commodities. For reference, the EU accounts for 17.5% of global Butter production, 47.5% of global cheese production and 30.3% of global SMP production.

The assessments will reflect the transactable value at 16:00:00 London time.

This methodology change will provide additional transparency into the dairy market and enable the industry to track price movements more closely.

Please send any questions or comments about this market note to clearly stating which market note to [email protected], your comments relate to, and if comments are intended for publication by Expana.

Expana will acknowledge receipt of all comments by email.