The ANZ Commodity Price Index rose 2.7% in November, the seventh rise in as many months. The recent run of form has seen the index lift to 13% higher than a year ago (due in part to base effects). The NZD Commodity Price Index also lifted 2.7% m/m in November, to deliver the first annual gain for exporters this year. The NZD fell slightly against the USD and GBP in November, but was still up on a TWI basis due to a stronger NZD against the AUD, yen and euro. In terms of sector specifics: - Dairy prices rose 4.8% m/m in November, the sixth rise in a row. Tight global milk supplies and Chinese import demand continued ... (full story)