Dairy product prices increased by 2.4% at today’s Global Dairy Trade auction run by Fonterra in New Zealand.

At the two previous auctions there had been drops of 3.1% and 1.1%.

Anhydrous milk fat was up 10.8%, Butter was up 10.4% while Butter Milk Powder dropped 9.5%.

176 bidders participated in the auction and the average winning bid was $2,609 (US dollars).