New FAO Meat Price Index
The FAO Meat Price Index has been revised to better reflect the structure of world trade in meat products...
The FAO Meat Price Index - February 2015
The FAO Meat Price Index* averaged 187.4 points in February, down 2.8 points (1.4 percent) from its revised January value. The reduction was caused by lower bovine and ovine meat quotations , while poultry meat prices were unchanged and those of pigmeat recovered after eight straight months of decline. A falling exchange rate against the US dollar and ample supplies caused Australian export quotations for beef to fall and were anticipated to also depress Brazilian beef prices for February (published mid-March). Conversely, the announcement of the opening of EU-funded aid to private storage lifted European export prices for pigmeat.
* 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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