According to the Food and Agriculture Organization of the United Nations (FAO), the global Meat Price Index increased by 1.2 points, or 1%, in August compared with its revised July value.
International poultry meat prices rose as Brazilian export quotations rebounded amid strong global import demand.
Pork Prices Rise Due to Heat in the EU
Global pork quotations also increased noticeably in August.
The main factor was higher prices in the European Union, where prolonged high temperatures slowed pig growth. This reduced the number of animals ready for slaughter and, consequently, tightened pork supply.
At the same time, the overall increase in global quotations was partly offset by lower prices in Brazil, where pork supplies remained ample.
Ovine Meat Prices Rise, Beef Prices Fall
Ovine meat prices increased on firmer quotations in New Zealand. The market was supported by limited export supplies and sustained global import demand.
By contrast, international beef prices declined in August.
In Brazil, export volumes slowed as the country approached full utilisation of its beef quota for shipments to China, raising the risk of higher tariffs being applied to additional volumes.
Australia had also already reached quota thresholds in the Chinese and South Korean markets. This intensified competition among suppliers for alternative destinations and put downward pressure on export prices in both Brazil and Australia.
Thus, the FAO Meat Price Index continued to rise in August, while tighter supply in the EU due to the negative impact of heat on pig growth was the main factor behind higher pork prices.
PigUA.info, based on materials from 3tres3.com