The FAO Meat Price Index*
averaged 93.2 points in August, almost unchanged from its July value and down 9.1 points (8.9 percent) from
the corresponding month last year. In August, quotations for bovine and poultry meat declined, caused by a weaker pace of import purchases, notwithstanding reduced slaughter of animals and processing in key producing regions. Meanwhile, price quotations for
ovine meat fell due to weak import demand amid an influx of new season lamb supplies in Oceania. By contrast, pig meat prices rose after four months of consecutive declines, as imports by China surged while global supplies tightened somewhat due to lighter
slaughter weight, coupled with prolonged plant shutdowns in some producing regions.
* 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.
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