FAO Meat Price Index

The FAO Meat Price Index* averaged 116.9 points in June, virtually unchanged from May, standing 2.1 points (1.8 percent) below its corresponding value a year ago. A decline in international poultry meat prices was nearly offset by moderate to slight increases in the prices of ovine, pig and bovine meats. The drop in poultry meat prices was mainly driven by abundant supplies from some leading producing countries. By contrast, ovine meat prices rose significantly due to the continued high import demand and despite ample export supplies, as farmers began liquidating their herds in response to unusually dry conditions in parts of Australia. Meanwhile, international pig meat prices increased slightly due to a steady pace of imports, further underpinned by seasonally active internal sales, especially in North America. World bovine meat prices remained broadly stable, reflecting generally well-balanced global demand-supply conditions.

* Unlike for other commodity groups, most prices utilised in the calculation of the FAO Meat Price Index are not available when the FAO Food Price Index is computed and published; therefore, the value of the Meat Price Index for the most recent months is derived from a mixture of projected and observed prices. This can, at times, require significant revisions in the final value of the FAO Meat Price Index.

Please be advised that some historical values of the Meat Price Index and the overall FFPI have been changed due to the revisions to historical data announced by USDA on 20 June 2024. FAS - Global Agricultural Trade System (GATS) (usda.gov)