Yamaha riders Jorge Lorenzo and Valentino Rossi will not participate in the third day of the Valencia MotoGP test after completing their testing schedule today.

Lorenzo set the second fastest time in 1m 30.768s behind new world champion Marc Marquez on the Repsol Honda, who lapped in 1m 30.536s.

Rossi, meanwhile, ended the second day of the three-day test in seventh place on the time sheets behind Bradley Smith on the satellite Yamaha Tech 3 M1, lapping in 1m 31.414s.

The Yamaha pair again tested an early version of the 2014 YZR-M1 and worked on a set-up to reduce fuel consumption ahead of next season's rule changes, which will see a reduction in the fuel allowance for MotoGP races.

"We tested next year's bike today and we found some positive things. We are trying some small details that will give us some small advantages," said Lorenzo.

"We will wait for Sepang to have bigger and more important modifications."

Nine-time world champion Rossi admitted he found the going tougher with the new M1 today as he slipped down the times.

"Today we focused on the new bike and it was a little bit more difficult than yesterday," he said.

"We worked a lot to try to test some new systems for the fuel consumption and the settings; it has been a good test.

"At the end the performance wasn't fantastic but we made an important job for winter to arrive competitive next year," added Rossi.

"During this season I wasn't strong enough in braking so this is the target to improve."

Lorenzo and Rossi will now take a well-earned break before returning to the track for the first official IRTA test of 2014 in Sepang, Malaysia.