Dairy commodity prices slipped again at Fonterra’s overnight auction, with the GlobalDairyTrade (GTD) trade weighted index falling 1.2%.

DairyAmerica represents about 45% of America's dairy production.

Fonterra’s final monthly auction on its online trading platform pulled in record revenue of $240 million overnight.

While trading numbers were softer compared with last month’s globaldairytrade auction, manager Paul Grave said the result was inline with expectations.

Whole milk powder prices dipped 7.7% to $US2974 a tonne on average. Similarly, skim milk powder was down 8.9% to $US2770 and anhydrous milk fat dropped 7.6% to $US4302.

Fonterra’s online trading platform globalDairyTrade is to double the number of online milk powder auctions, with confirmation today they will soon be held twice a month.

Trading manager CRA International will start holding the events twice a month from September.

Kelvin Wickham, Fonterra managing director Global Trade, said the increase in frequency was a significant milestone.

Fonterra’s online auction platform globalDairyTrade recorded a dip on its new trade weighted index of 3.5% following its latest trading event during the early hours of this morning.

Whole milk powder fell 3.4% compared with last month’s auction to $US3790 a tonne, while skim milk powder dropped 6.2% to $US3462.

This is still well above the lows of less than $US2000 a tonne realised mid-2009.

However anhydrous milk fat crept up 5.9% to $US5324 on average.