Dairy product prices dropped by 1.1% at today’s Global Dairy Trade auction run by Fonterra in New Zealand.

The marginal decrease follows a drop of 3.1% in the most recent auction held two weeks ago

Butter was up 7.3%, Anhydrous Milk Fat was up by 9% while whole milk powder was down 7.1%.

177 bidders participated in the auction and the average winning bid was $2,513 (US dollars).

New Zealand's peak milk month of October delivered a record 270m kgs of milk solids; volume +4.5% on same month last year but solids +5.4%

— Pat O'Keeffe (@IFJ_Pat) December 2, 2014