FAO: Meat Price Index decreases in January

The FAO Meat Price Index recorded an average of 123.8 points in January, a decrease of 0.5 points (0.4%) from December, but still 7.1 points (6.1%) above the level recorded a year earlier. The drop was mainly due to the reduction in international pork prices, while beef and lamb quotations remained virtually stable. In contrast, global poultry meat prices increased. Pork prices fell largely due to the drop in quotations in the European Union, amid weak international demand and abundant supply, including the liquidation of delayed stocks associated with the temporary closure of slaughterhouses during the end-of-year holidays. Despite relatively tight supply conditions, global lamb prices remained largely stable, with weaker seasonal demand following the high year-end purchases. Beef prices also remained stable, amid changes in Brazilian exports to other destinations, after the rapid exhaustion of the tariff-free quota of the United States and the subsequent application of the 26.4% ...