Prices have risen at the latest Global Dairy Trade auction.
This was the final auction before the Fonterra board meets later this month to calculate its opening forecast for next season's payout to its 10,500 farmers.
This season's forecast is currently $3.90 per kilogram of milk solids. Shareholder farmers will also receive total dividends of 40 cents per kg/MS.
Dairy NZ estimates the average break even point this season is $5.25.