August 2022
The FAO Meat Price Index * averaged 122.7 points in August, down 1.8 points (1.5 percent) from July, also marking the second consecutive monthly decline from an all-time high reached in June 2022, but it remained 9.3 points (8.2 percent) above its corresponding value a year ago. In August, international quotations for poultry meat fell, driven by lower import purchases by leading importers and somewhat elevated global export availabilities. Meanwhile, world bovine meat prices declined on weak domestic demand in some leading exporting countries, raising export supplies, and a modest increase in Australian supplies. By contrast, price quotations for pig meat rose due to the continued low supply of slaughter-ready pigs, while ovine meat prices recovered moderately, owing to increased import demand from some European countries, compensating for lower purchases by China.
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