NZ commodity prices finish 2011 on weak note

New Zealand commodity prices dropped to their lowest levels in a year, led by declines in wool and skins.

The ANZ Commodity Price Index slipped 0.8 percent last month, with little change in the New Zealand dollar resulting in a 0.6 percent decline in world prices. Since a peak in May, the overall level of commodity prices has fallen 10 percent.

Eleven commodities fell, two rose and four remained unchanged. Wool and skins declined 7 percent, log prices dropped 5 percent and lamb prices fell 4 percent.

A new record high was record for beef prices, rebounding 12 percent in December. The price of skim milk powder, butter, casein and sawn timber all eased by one percent or less.

No change was recorded in the price of seafood, apples, whole milk powder or venison.

(BusinessDesk)

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

GEN - Resignation of Corporate Counsel and Company Secretary
January 9th Morning Report
VSL - Confirmation of MD/CEO and Board changes
January 5th Morning Report
December 31st Morning Report
December 30th Morning Report
CHATHAM ROCK CLOSES PRIVATE PLACEMENT
December 29th Morning Report
December 24th Morning Report
Spark NZ announces new receivables financing structure