World milk prices and volumes have fallen in Fonterra's fortnightly auction.
The Global Dairy Trade Index fell 1.2 percent, with an average selling price of $US5,016 per tonne.
At the auction overnight on Tuesday, 34,568 tonnes were sold compared with around 35,000 two weeks ago.
Prices for benchmarch whole milk powder and skim milk powder slipped 0.3%. butter milk powder was the only product to rise and was up 3.1 percent.