Prices eased again at the second Global Dairy Trade auction for the new season, with a 1.3 per cent drop from the previous event.
Whole milk powder - which has the biggest influence on Fonterra's farmgate milk price - was also down 1.8 per cent to an average US$3997/MT, while skim milk powder - Fonterra's second biggest reference product - dropped 1.7 per cent to an average US $3356/MT.
Butter softened 1.7 per cent to an average US$4612/MT, while cheddar rose 0.2 per cent to an average US$4328/MT.
Butter milk powder was not offered at this event.
Anhydrous milk fat rose 0.6 per cent to an average US$5687/MT, while lactose was up 0.4 per cent to an average US$1240/MT.