Meat price index rises further, dairy slightly decreases

The meat price index of the Food and Agriculture Organization (FAO) notes a higher price for the seventh consecutive month. The benchmark for global meat prices has increased by nearly 10% since January. Pork and poultry meat prices are currently stabilizing, but the price increase of beef and lamb meat continues. Strong demand from the United States is driving up beef prices in Australia. Brazil sells less beef to the US due to import duties, but prices have remained stable due to a larger supply to China. Limited availability for export Oceania is managing to sell larger volumes of lamb meat to more profitable markets such as the United Kingdom and the United States. Prices were further supported by the limited availability of meat for export. As a result, lamb meat prices have now been rising for five consecutive months. In the pork sector, supply and demand are relatively balanced, resulting in stable pricing. Poultry meat prices are under pressure due to ample stocks for export in Brazil. Increased butter production Global butter prices fell by 2.5% in August. This decrease is primarily due to increased production in New Zealand, reports FAO. Additionally, there is a stable supply from Europe in the global market. In contrast, there is a cautious demand in Asia. Cheese prices decreased The latter also impacts the cheese market. Consequently, cheese prices fell by 1.8% last month. In the European Union, the aftermath of reduced demand during the holiday period and greater competition in export markets has created some price pressure. Overall, dairy prices dropped by 1.3% in the past month. This is the second consecutive month that prices have fallen. The peak was reached in June at a level of 155.5 points, the highest price level since July 2022.