January 12, 2016

Global meat prices fall to 5-year low

Global meat prices in December fell 2% to their lowest level since early 2010, data from the UN Food and Agriculture Organisation showed, according to AHDB Pork.

Meat prices in 2015 were, on average, 15% lower than in 2014. December prices were even much lower at 23% down on December 2014, said the AHDB Pork, a division of the UK's Agriculture and Horticulture Development Board.

Prices for all the main categories of meat were noted to have fallen in December, although poultry meat was the least affected.

AHDB Pork said reduced import demand for beef from the US has intensified competition on other markets, as well as affected prices for other meats in the US, including pork.

It also noted that pig meat prices fell in the EU due to high production levels relative to demand.

Cereals prices were also at a 5-year low in December, while dairy and oils were only marginally above recent multi-year lows.