Commodity prices rise 1.3% in October, led by wool and cheese
Wool prices rose 5%, the second monthly gain after declines in 11 of the preceding 12 months.
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New Zealand commodity prices rose for the third straight month in October, led by gains in wool and dairy products while aluminium fell.
The ANZ Commodity Price Index increased 1.3% last month, with 12 commodity prices gaining two declining and three unchanged.
A slightly firmer New Zealand dollar meant the gain in the ANZ NZD Commodity price Index was a slightly lower 1.1%.
Wool prices rose 5%, the second monthly gain after declines in 11 of the preceding 12 months. Cheese rose 4% while butter and milk powders rose 3%.
Kiwifruit rose 2% and apples gained 1%, firming into the tail of the Northern hemisphere export season. Log prices gained 1%, while venison, lamb and beef eked out small gains.
Pelts recorded the biggest decline, down 6% last month, and aluminium fell 4%. Seafood, wood pulp and lumber were unchanged.
(BusinessDesk)
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Commodity prices rise 1.3% in October, led by wool and cheese
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