It was the smallest monthly rise recorded since September.
Nine commodities recorded a lift in export prices, six recorded a weakening and two were unchanged.
The new season kiwifruit crop recorded the largest increase, with the traditional start of season seeing prices 27% above last year's season end high. Prices were 19% higher compared with a year ago.
Skin prices lifted 4% and skim milk powder, lumber, cheese and sheep meat prices all lifted 2%, while log and venison prices increased 1%, and seafood prices lifted by 0.25%.
Apple prices drifted 7% lower in the month, while beef prices fell 5%, whole milk powder dropped 4%, aluminium dropped 3% and the price of butter eased 1%.
Wool prices fell for the first time this year, easing 0.25%, while wood pulp and casein prices were unchanged.
An exceptional autumn in many regions meant the 2010-11 season would go down as a "golden year" for most in the agriculture sector, despite a topsy-turvy start, ANZ's May "Agri Focus" report said.
Fonterra's season-end milk price of $7.50 per kg of milk solids, plus a dividend of around $0.25 after retentions, would be the highest on record, while annual production would set a record.
A large proportion of earnings had been used to repay debt, reflected in agricultural credit numbers showing a decline of $900 million to $46.3 billion (-1.8%) since September 2010, despite the number of farm sales and prices picking up.
Autumn farm-gate prices for meat and fibre products had been "nothing short of spectacular". The seasonal peak in production had also come later, with farmers not having the same numbers of stock to finish, and having held stock longer to add more weight because of a wet winter/spring period.
Overall, lamb production was 12.6% behind last year. However, because farmers had opted to cull breeding flocks and hold finishing stock for longer, the average per head weight for lamb had increased to 17.9kg (up 1.5% on last year), indicating a record of 18kg per head was on the cards. Overall, mutton production was still running 22% ahead of last year, but was beginning to decline as farmers assessed stock levels for the 2011-12 season.
Beef production was 0.7% ahead of last year, due to an increase in cull cows from dairy herds.
The trifecta of lower interest rates, record commodity prices and good climatic/pasture conditions seemed to have delivered a "much-needed shot in the arm" for rural property prices, especially dairy and dry stock, the ANZ report said.
