Average prices paid at today’s Fonterra dairy auction fell marginally by 0.6%, compared with those recorded at the event held on July 1, with an average selling price of $3,000 per tonne.

Today’s result comes on the back of a 8.4% fall at the last auction, prior to that 10 of the last 11 auctions in a row have seen price falls since February. It is important to note that today’s auction comes on the back of significant falls since April with the Global Dairy Trade auction price index down some 55%.

Chedder and Skim Milk Powder were among the products affected by the change in market conditions today, with price falls of 7.9% and 12% registered respectively.