FAO Meat Price Index Hits Record 131.0 in June as Dairy Extends 11-Month Slide
Updated
Updated · The Pig Site · Jul 3
FAO Meat Price Index Hits Record 131.0 in June as Dairy Extends 11-Month Slide
1 articles · Updated · The Pig Site · Jul 3
Summary
131.0 points marked a new June record for the FAO Meat Price Index, up 0.4% from May and 4.0% from a year earlier.
Brazilian poultry prices drove the gain as strong global import demand met tighter domestic availability after production adjustments; ovine meat also rose on limited exportable supplies.
Pig meat prices fell on ample EU supplies and weak Asian demand, while bovine prices edged lower as Australia prepared for higher third-quarter exports and Chinese quotas slowed Brazilian purchases.
117.4 points left the FAO Dairy Price Index down 1.5% in June and 24.5% year on year, with cheese declining for an eleventh straight month as EU and US supply improved.
130.3 points put the broader FAO Food Price Index down 0.3% from May, as gains in meat and vegetable oils were offset by declines in sugar, cereals and dairy.