The ANZ World Commodity Price Index lifted 2.8% in November, pushing it into new territory. Dairy prices led the charge, supported by strong gains in meat, which offset weaker prices for forestry and aluminium. In local currency terms, the index gained 3.1%, which was also a record high. {chart} Global shipping costs have eased, although pricing remains elevated and expected to remain volatile. The Baltic Dry Index dropped sharply, falling 21% during November, to end the month at just half the level it was in early October. There has also been some easing in both the Harper Peterson World Container Index and the ... (full story)