Dairy auction prices slip

Dairy commodity prices slipped at Fonterra's overnight online auction, with the globalDairyTrade trade weighted index down 2.5 per cent from the previous auction.

It was the second decline in a row, following a fall of 1.3 per cent a fortnight ago. The average winning price overnight was US$3506 ($4708).

For anhydrous milk fat, the average price fell 1.2 per cent overnight to US$5196, butter milk powder was down 1.1 per cent to US$3033, skim milk powder fell 4.7 per cent to US$3072, and whole milk powder slipped 1.1 per cent to US$3484.

See more details of the auction here.

- NZPA