Tridge summary
The FAO Meat Price Index experienced a slight decrease of 0.8% in October, but rose by 5.9% from the previous year, reaching 118.1 points in November. This decline was primarily due to a drop in international pork prices, which have been decreasing for the fifth month in a row, largely attributed to an oversupply and weak demand. Sheepmeat and poultry meat prices also saw a slight decrease, while beef prices remained relatively stable. The rise in Brazilian beef prices because of high global demand was balanced out by a decrease in Australian beef prices due to reduced demand from the US.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The FAO Meat Price Index averaged 118.1 points in November, down 0.9 points (0.8%) from the revised October figure, but up 6.6 points (5.9%) from a year earlier. The decline was mainly due to lower international pork prices, which fell for the fifth consecutive month, mainly due to lower quotations in the European Union, reflecting abundant supply and persistently subdued global and domestic demand. Sheepmeat prices fell slightly in November, influenced by exchange rate movements, despite strong international demand. Likewise, global poultry meat prices fell marginally, pressured by strong export supplies from major producing regions. Meanwhile, international beef quotations ...
Source: 3tres3
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