The FAO Meat Price Index averaged 118.4 points in October, down 1.6 points (1.4%) from September, marking the fourth consecutive monthly decline, with world prices of all meat types registering drops. However, the index remained 6.4 points (5.8%) above its value a year ago.
World pig meat prices dropped substantially on weak global import purchases in tandem with softer internal demand in some leading producing countries.
International ovine meat prices registered the steepest drop, underpinned by the impacts of currency movements and seasonally increasing supplies from Oceania amid subdued import purchases. Meanwhile, world bovine prices fell slightly on high current supplies and rising availability of slaughter cattle, notably in Brazil. International poultry meat price downward trend continued for the fourth consecutive month, as export availabilities outpaced subdued global demand, notwithstanding setbacks to production stemming from avian influenza outbreaks and high feed costs.
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