Dairy prices have risen slightly in the latest global auction to their highest level in nearly two years.
Photo: RNZ/Susan Murray
The average price was up just under one percent to $US3483 a tonne, and is the ninth consecutive price gain.
The previous auction showed a 1.9 percent rise.
Dairy prices have been rising since late November when they hit a two year low because of an oversupply on world markets.
The price for whole milk powder, which has a key influence on farmer payouts, fell by 1.3 percent to $US3287 a tonne.
Prices for most other products offered rose with the strong gains for butter and cheese.
Volumes fell nearly 18 percent on the last auction.