Dairy prices fell to their lowest level in seven months in the latest global auction.
Butter and cheese prices fell, while the average dairy price slipped 1.7 percent. Photo: 123RF
The average price was down 1.7 percent to $US3222 a tonne.
It followed a 5 percent fall in the previous auction, and was the fourth consecutive auction to have a drop in average prices.
The price of whole milk powder, a key factor in setting returns to local farmers, rose 1.5 percent to $US2973 a tonne.
Volumes sold rose fell 4 percent with the New Zealand dairy season in its early stages.
There were sizeable price falls for butter and cheese in the overnight auction.
