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- Key Indicators: Global freight prices are on a downward trend in Mar-24 and Apr-24 as global freight companies learn to navigate the tensions in the Middle East. However, freight prices will likely remain elevated as global ocean cargo demand is up year-on-year (YoY) and is expected to increase further in the coming months. The global meat price index has been trending upward since the beginning of 2024, driven by robust global demand, especially for poultry, beef, and lamb.
- Beef: Beef prices in the United States (US) and the European Union (EU) are expected to continue rising due to production constraints. Australian prices are anticipated to increase due to robust global demand, particularly from the US. Beef prices from Brazil are projected to remain relatively stable in May-24 due to increased domestic production.
- Poultry: Chicken prices in the US and Brazil are expected to keep rising in May-24 due to growing global demand, while EU prices are expected to trend downwards, attributed to increased cheap imported supply in the market, especially from Ukraine.
- Pork: Pork prices in the US are anticipated to increase in May-24 due to elevated global demand, primarily from Mexico, Australia, and South Korea. Brazil’s quotations are expected to rise due to concerns surrounding feed prices, availability, and economic conditions. Prices in the EU are expected to increase in May-24 as the 2024 summer approaches with high demand.
- Lamb: Lamb prices in New Zealand are anticipated to continue trending downwards in May-24 due to sluggish demand from China and reduced market competitiveness. Australia’s lamb prices are expected to rise in May-24 due to projections of supply tightening resulting from high slaughter rates over the last six months.

Table of contents

Part I: Key Indicators

- Freight

- FAO Meat Index

Part II: Beef

- United States

- Brazil

- Australia

- European Union

Part III: Poultry

- US

- Brazil

- EU

Part IV: Pork

- US

- Brazil

- EU

Part V: Lamb

- New Zealand

- Australia

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