Prices have risen for the second time in a row, during last night's Global Dairy Trade (GDT) auction, with the index up 2.2 per cent across the board.
Whole milk powder prices - which have the biggest bearing on Fonterra's farmgate milk price - inched up by 1.7 per cent to once again break the US$3000 per tonne mark, at US$3041.
But it was butter milk powder (BMP) and butter at the forefront of the lift, with BMP jumping 9.1 per cent to US$2569/tonne and butter not far behind - up 8.4 per cent to US$3561/tonne.
Skim milk powder - Fonterra's second biggest reference product - bucked the trend with a 0.9 per cent fall to US$2865/tonne.
Among the other products on offer, lactose took a significant tumble - down 7.4 per cent to US$1182/tonne, while anhydrous milk fat rose 5.4 per cent to US$4131/tonne and cheddar lifted 0.4 per cent to US$3694/tonne.