The ANZ Commodity Price Index for March increased by 4.6%, the second lift in a row. Dairy products once again led the increase (+9.2%), but much of this was a carryover effect into early March from the February rally in the GlobalDairyTrade (GDT) auctions. The last two GDT auctions have seen all of this improvement unwound already, not boding well for next month’s Commodity Price Index. One positive in March was a bounce in most meat and fibre product prices, which will hopefully prove more sustained. Outside of these two sectors prices were either lower or unchanged. The World Price Index in March was down 11.9% ... (full story)