Dairy prices have fallen once again in Fonterra's latest fortnightly global auction.
Prices for all products slipped nearly 2.5% to an average $US4,280 a tonne.
It follows a decrease of 8% in the previous auction.
Earlier this week, NZX Agrifax said it expected prices would ease again but because of the low volumes of dairy products the fall wouldn't affect Fonterra's forecast payout to farmers.
BNZ economist Doug Steel cautioned against reading too much into the price fall, since volumes are low as the off-season approaches.
Nevertheless, dairy prices have risen 15% so far this year due to strong demand, particularly from Asia.
In February, Fonterra lifted the payout to farmers to between $7.90 and $8.00 a kilogramme of milk solids for the current season.
Fonterra is owned by about 11,000 farmers and generates annual sales of about $17 billion.
