Global dairy prices have fallen at Fonterra's online auction overnight on Tuesday.
The dairy cooperative's Global Dairy Trade Weighted Index fell 2.1% to an average selling price of $US3499 a metric tonne.
Prices have fallen at the last seven auctions, and the latest result is the lowest since August last year.
Prices for anhydrous milk fat and skim milk powder fell sharply while prices for whole powder, cheddar cheese and buttermilk rose.
