Up 0.7% m/m, with the prior revised to +3.2% (from +2.7%)
- Eighth rise in a row
For the y/y result, up 16.5%
ANZ also convert the results to local currency terms ("NZD Commodity Price Index") , +2% m/m and +9.4% y/y
In terms of sector specifics:
- Dairy prices rose for the seventh time in a row, up another 3.9% m/m in December
- The largest fall was a 6.2% drop in wool prices
- Beef prices also fell 5.5% in December
- Lamb prices also fell 2.4% m/m - the first fall of 2016
- Forestry prices posted a small gain (+0.6% m/m) in December
- Seafood posted a small 0.2% m/m gain and finished the year 13% higher
- Aluminium prices fell slightly (-0.6%), but this was off two sizeable 4+% gains in the previous months
- Horticulture finished the year 8% higher and remains well positioned for another very profitable 2017 harvest.
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ANZ's Commodity Price Index is a monthly report that tracks the movement in the prices received for New Zealand's main export categories
