NZ ANZ Commodity Prices m/m

The ANZ World Commodity Price Index fell 1.0% m/m in June. As tensions eased in the Middle East and the Strait of Hormuz began reopening, oil prices have fallen. While oil is not part of our Commodity Price Index, it does influence trends across many commodities. As it happened, all components of our index fell except meat and fibre. The meat and fibre price index increased 0.8% m/m, boosted by wool’s gain of 11.2%. Wool prices are now up a remarkable 88.4% y/y. Easing tensions in the Middle East have also helped some shipping costs ...

The ANZ World Commodity Price Index rose 0.7% m/m in May, with all commodity groups in the index seeing incremental gains. Dairy prices rose 0.1% m/m, with higher milk powder prices offsetting lower butter prices. Over the past year, skim milk powder prices are up 25.8% while butter prices are down 29.2%. Over the past year, the index is up 1.3%, with the standouts being wool (up 75.3%), aluminium (up 49.1%), and beef (up 25.3%). Tight global supplies are the common theme among these three commodities. The effects of the Middle East ...

The ANZ World Commodity Price Index fell 0.8% m/m in April. Most commodity groups in the index rose in the month, but a 3.8% m/m drop in dairy prices drove the headline result. Dairy prices are in a period of high volatility, especially butter. Overall dairy prices are down 7.5% y/y, reflecting strong global supply. Standing out among the other commodity groups are forestry and aluminium. Forestry commodity prices rose 7.1% m/m in overseas markets, partially reflecting the higher production and transportation costs now faced by the ...

The ANZ World Commodity Price Index rose 4.1% m/m in March. The Middle East conflict, which broke out at the end of February, drove many commodity prices higher in March. This is the second-highest month on record for the index in world price terms. Only March 2022 was higher, at the outbreak of the war between Russia and Ukraine. All components of the index rose in March except horticulture, which is between seasons. Dairy prices rose 5.9% m/m as importers increased purchases to secure supply. Aluminium prices have risen 9.8% m/m. A ...

The ANZ World Commodity Price Index rose 4.2% m/m in February. Rising geopolitical tension throughout January and February likely contributed to higher commodity prices across several categories. Dairy prices increased 7.8% m/m, continuing the rebound that began in January. Prices have risen despite very strong milk production in most key markets, which would typically be expected to place downward pressure on prices. The meat and fibre subgroup has set a new record high in six consecutive months, rising another 2.6% m/m in February. ...

The ANZ World Commodity Price Index rose 2.0% m/m in January. Dairy prices rose 3.3% from December, rebounding from four months of falling prices. Wool and aluminium also started the year with gains of 13.9% and 8.5% m/m, respectively. Wool prices have risen 37.1% over the past year, primarily due to falling production in Australia and New Zealand. Aluminium prices have risen 21.5% y/y, alongside other base metals such as copper, tin, zinc, and nickel. The NZD Commodity Price Index rose 1.3% m/m in January, with a stronger NZD ...

The ANZ World Commodity Price Index fell 2.1% m/m in December. Dairy prices fell 5.3% m/m, offsetting a 1.2% rise in meat and wool. Global dairy prices are being pressured by strong milk production growth in most major exporting countries. The impact on butter has been the most dramatic, with prices down 16.9% m/m. In contrast, the meat and wool world price index rose to a new record for the fourth consecutive month. Tight supply in the US beef market has been the main driver, but lamb and wool also have strong fundamentals. Across ...

The ANZ World Commodity Price Index fell 1.6% m/m in November. Dairy prices fell 5.4% m/m, offsetting a 3.5% rise in meat prices. The dairy market is currently facing very strong production growth in all key exporting countries. This is pressuring butter and all other dairy commodity prices. In contrast, the meat, skins, and wool world price index rose to a new record. Strong demand and tight supplies of all red meat and wool products continue to push prices up despite tariff variability. The overall index has drifted lower since May ...