Dairy prices edged down at Fonterra's latest online auction.
The global dairy trade price index declined 0.9% to an average selling price of $US3666 US dollars per metric tonne overnight on Wednesday.
Prices fell across the board, led by milk protein concentrate.
In December, Fonterra lifted its forecast payout to between $6.90 - $7 per kg of milk solids for the current season, citing a modest improvement in auction dairy product prices.
