The ANZ World Commodity Price Index fell 2.3% m/m in June. Beef and lamb prices fell sharply, and forestry prices also retreated, while apple prices improved. In local currency terms the index fell just 0.6% m/m, supported by a 0.7% m/m easing of the NZD against the Trade Weighted Index Global shipping price movements were mixed in June. The Baltic Dry Index lifted during the month whilst the Harper Peterson Global Index and the China Containerised Index both eased. Shipping prices are expected to remain relatively soft due to tighter global economic conditions reducing demand for goods. Dairy prices fell 0.2% ... (full story)