FAO meat price index hits record high

The FAO meat price index averaged 126.0 points in June, up by 2.6 points (2.1%) from May and 7.9 points (6.7%) from the same month last year, reaching a record level. This increase was driven by rising prices in all meat categories except poultry.

Global beef prices reached a new peak, reflecting limited export supplies from Brazil, according to the FAO, and strong demand from the United States, which has driven up Australian export prices.

Pork prices rose due to strong global import demand amid stable supply conditions, while sheep meat prices increased sharply for the third consecutive month, supported by steady international demand and lower export availability from Oceania.

In contrast, poultry prices continued to decline, pressured by abundant domestic supply in Brazil following export restrictions imposed after the detection of avian influenza in mid-May. However, the impact was partially offset later that month, as Brazil regained its HPAI-free status after 28 consecutive days without new outbreaks on commercial farms. This led some trade partners to ease restrictions and triggered a gradual recovery in import demand.