In October, the average value of the FAO Grain Price Index was 125 points, which is 1.3 points (1%) lower than in September and as much as 27.3 points (17.9%) lower than the corresponding figure for the previous year. In October, global wheat prices fell by 1.9% due to a generally higher-than-expected supply from the United States and sharply increased competition between exporters. In contrast, global prices for feed grains increased slightly (by 0.6%) compared to last month. The decrease in supply in Argentina was one of the factors behind the increase in world corn prices, but this was hampered by the seasonal increase in supply in the United States, where the harvesting campaign continued, as well as by intense export competition from Brazil. As for other coarse grains, global sorghum prices rose in October, while barley prices fell. Compared to the previous month, global rice prices fell by 2% in October, which was driven by generally passive import demand in the world.
In October, the average value of the FAO Meat Price Index was 112.9 points, which is slightly lower (by 0.7 points, or 0.6%) compared to the September value; this decline has been going on for the fourth consecutive month, so this indicator is 3.9 points (3.4%) lower than the corresponding indicator of the previous year. In October, global pork prices continued to decline for the third month in a row, driven mainly by sluggish global import demand, especially from some East Asian countries, with large export supplies from some leading suppliers also contributing to the decline. By contrast, global poultry prices increased slightly as supplies from several major suppliers remained tight due to the impact of the bird flu outbreaks, while consumer demand remained strong as poultry remained relatively affordable. World prices for beef and lamb also increased slightly under the influence of steady import demand from some leading importing countries, despite the large supply of beef from Australia and Brazil and lamb from Oceania.
PigUA.info by agravery.com