Dairy prices fall in June commodity index

A 13.5 per cent increase in the price of sawn timber in June helped counter a 3.3 per cent decline in dairy prices in an index of New Zealand commodity prices.

The ANZ Commodity Price Index increased 0.2 per cent in June from the month earlier. This is the fourth consecutive monthly rise in the index.

However, the index is down 27.9 per cent on June last year.

A breakdown showed a lift in the price of eight key exports in the month of June and a fall in five.

Leading the falls was the 3.3 per cent drop in international dairy prices. Dairy's weighting in the index is 0.408.

The price of kiwifruit dropped 3 per cent and apple prices dropped 2.8 per cent. Seafood prices eased 2.7 per cent in their eighth consecutive monthly decline. Wool prices slipped just 0.1 per cent.

The biggest rise was in 13.5 per cent jump in sawn timber prices. Aluminium prices rose 7.9 per cent and wood pulp prices rose 3.5 per cent.

Log prices lifted 1.4 per cent in the month, skin prices rose 4.7 per cent, beef prices rose 0.9 per cent, venison rose 0.4 per cent and lamb rose 0.3 per cent.

The New Zealand dollar strengthened during June. As a result the ANZ New Zealand Dollar Commodity Index posted a 5 per cent decline in June, which was the largest monthly fall in six months. The index is down 17.3 per cent annually.

- NZPA