Meanwhile, lactose rose 3.7 per cent to an average US$1390/MT, but with very little product traded; and anhydrous milk fat added another 0.9 per cent to its balance with an average US$6724/MT.
Cheddar, which hiked a remarkable 14.1 per cent three events ago, recorded a more sedate 0.5 per cent increase to an average US$5241/MT.
Sweet whey powder was not traded, and butter milk powder was not offered at this event.
The volume traded exceeded 30,000 metric tonnes for the third time this season, with 30,375 sold.
On May 26, Fonterra announced an opening forecast Farmgate Milk Price range for the 2021/22 season of NZD $7.25 - $8.75 per kgMS, with a midpoint of $8.00 per kgMS.
Earlier this month, prices hit a seven year high shortly after the co-op lifted and narrowed their forecast to NZD $8.40 - $9.00 per kgMS, with a midpoint of $8.70 per kgMS, which would exceed the previous record payout of $8.40.
NZX dairy analyst Alex Winning said a drop was bound to happen at one point during the run of upwards prices.
"As bad as it sounds, this result wasn't that surprising; whole milk powder prices have been struggling to shift higher at the same rate as the rest of the products on offer on the GDT platform.
"However, demand for whole milk powder seems steady, taken from the fact that more was sold at this auction than at the last, and the total volume sold was closer to the total volume offered than we've seen for a few months now."
- Additional reporting from RNZ
