New Zealand commodity prices saw a fall for the first time in 15 months as the ANZ Commodity Price Index eased from a record high in the month of May, which reflected softer prices for dairy products.

The index fell by 1.2% to 280.9 in the preceding month, following a revised 2.8% gain in the month of May. Dairy prices plunged by 3.1%, with dairy index skim milk prices becoming shaky and falling 8.1% in a month, when Fonterra Cooperative Group's online trading platform, globalDairyTrade, reported a decline in the standard price for whole milk powder and enlarged instability.

In New Zealand Dollar terms, the index slumped by 0.2% to 217.2 as the kiwi Dollar pared its income in the previous month.

ANZ Economist, Steve Edwards said that the index was still at the second uppermost level measured after last month's peak and was up 53% from the same month, a year ago.

Eight of 13 commodities fell, which includes aluminum that dropped 6%, apples were down by 5.8%, while beef fell by 5.2%. Log prices saw a fall by 2.3%, sawn timber eased 1.7% and kiwifruit dropped by 1.2%.

Amongst the ones, who gained, skin prices increased 6.8%, wood pulp prices increased 4.5% and seafood prices was up by 3.2%. Wool increased 1.5% and venison was up by 1.3%.