The FAO Meat Price Index* averaged 114.2 points in September, down 1.2 points (1.0 percent) from August, marking the third consecutive monthly decline, and 6.1 points (5.0 percent) from its value a year ago. International pig meat prices fell, underpinned by weak import demand from leading importing countries, especially China, and ample global export availabilities. World poultry meat prices also dropped, reflecting abundant supplies in leading global suppliers, especially Brazil. Ovine meat prices declined for the fifth straight month, albeit at a slower pace, driven by high supplies from Australia, despite steady demand from China and the Middle East. By contrast, strong import demand for lean bovine meat, especially in the United States of America, led to a rebound in international bovine meat prices, notwithstanding high export supplies from Brazil and Australia.
* 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.