FAO meat price index down in January 2025

The FAO Meat Price Index averaged 117.7 points in January, down 1.7 points (1.4%) from December, while remaining 8.9 points (8.1%) above its level a year ago. The decline was driven by lower international ovine, pig, and poultry meat prices, which outweighed increases in bovine meat quotations.

Pig meat prices declined, due to lower quotations in the European Union, where an outbreak of foot-and-mouth disease in Germany triggered import bans by several key-importing countries, resulting in abundant surplus supplies, exacerbated by backlogs stemming from abattoir closedowns during the winter holidays.

Ovine meat prices eased as demand decreased after the end-of-year holidays, and poultry meat prices softened, reflecting ample supplies, particularly from Brazil, where competitive feed prices supported production. By contrast, world bovine meat prices rose, underpinned by sustained strong import demand from key markets.