Another hike to the flagging returns for dairy farmers was presented by Fonterra's latest whole milk powder online auction last night.

The early hours of the morning saw the internet-based sale platform, globalDairyTrade, concluding its September event, with average prices for whole milk power increasing 24.2% to $US2858 a ton - $US557 up on last month.

This arrives following a 25.8% increase during the August auction reaching $2301 per ton.

The lift was described as higher than hoped by Fonterra Global Trade managing director Kelvin Wickham.

He said: "We anticipated whole milk powder prices would lead the recovery because of low global inventories and firming demand. With demand returning, our customers have more confidence in refilling their supply chains. But it remains to be seen whether demand has returned to sustainable growth."

It was specified by Mr. Wickham that anhydrous milk fat (AMF) would be included in trading events of globalDairyTrade from 3rd November, in line with plans to offer an expanded range of products.

NBR had said earlier this month that Fonterra was in talks with other milk production companies to use the online auction system.

The month of August saw milk powder from Fonterra's Australian operations being sold on the platform.