6 Jun 2018

Dairy prices drop at global auction

11:43 am on 6 June 2018

Dairy prices have fallen in the latest global dairy auction overnight.

Fonterra milk truck picking up Simon Mackle's milk.

Photo: RNZ / Rebekah Parsons-King

The average price was down 1.3 percent to $US3487 a tonne.

It follows the 1.9 percent rise in the previous auction two weeks ago.

The price of whole milk powder, a key indicator, was down 1.1 percent to $US3205 a tonne.

But there were solid gains in the price butter milk powder, which lifted by 17.7 percent to $US2314 a tonne.