NZ commodity prices fall for fifth straight month, led by milk powder

Mon, 04 Aug 2014

By Jonathan Underhill Aug. 4 (BusinessDesk) - New Zealand commodity prices fell for a fifth straight month in July, led by whole milk powder, reflecting a build-up of inventory in China and a strong milk production season for dairy farmers. ANZ Rural economist Con Williams said lower prices for whole milk powder have begun to weigh on prices of other dairy products. Last month butter fell 6.8 percent, cheese and skim milk powder were down 2.9 percent and casein fell 2 percent. Among other export commodities, apples fell 4.3 per...

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