Falling prices for lamb and logs drove down overall commodity prices last month.
The ANZ World Commodity Index for June fell 0.7 percent, or 5.2 percent year-on-year.
However, the monthly drop was in the order of 4.5 percent when taking into account a strong increase in the New Zealand dollar.
The price of lamb was hit by a drop in demand for premium cuts, while strong gains in log prices were not repeated in June, partly because of rising shipping costs to China.
However, strong demand for new season fruit saw horticulture prices shoot up 7.5 percent.
Dairy prices have gained a little, but global prices are expected to soften in the coming months with less opportunities to eat out in certain overseas markets.