The FAO Meat Price Index* averaged 112.9 points in October, down slightly (0.7 points, or 0.6 percent) from September, marking the fourth consecutive monthly decline, and standing 3.9 points (3.4 percent) below its value a year ago. In October, international pig meat prices fell for the third consecutive month, principally driven by the persistently sluggish import demand, especially from some East Asian countries, with further downward pressure stemming from high exportable availabilities in some leading suppliers. By contrast, world poultry meat prices rebounded slightly, as avian influenza outbreaks continued to constrain supplies from several world leading suppliers amid robust consumer demand due to the relative affordability of poultry meat. International bovine and ovine meat prices also increased marginally, reflecting the persistent, robust import demand from some leading importers, notwithstanding ample supplies of bovine meat from Australia and Brazil and ovine meat from Oceania.
* 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.