Pork meat quotes up 16.5% in January

The first month of 2022, January, showed a different direction in the movement of quotations for cattle MEAT and pork. Quotations of cattle meat in live weight, after a significant increase last year, went further up and increased by almost two and a half percent. In 2021, the meat of the two types increased by almost the same level, but in January, the quotes for fattening cattle meat fell by more than six percent. Perhaps this was influenced by the winter slaughter of veal, and there was more such meat on the market, which caused a drop in quotations. January brought high growth to pork quotes. In one month, they soared in relative terms higher than in the whole of last year. Pork fell only at the beginning of the year, and then rose continuously for three weeks in a row.

In total, in January, quotations of cattle meat in live weight increased from 1.397 to 1.431 dollars per pound, or by 2.4%. Quotations of fattening cattle fell from 1.6995 to 1.5963 dollars per pound, or 6.1%. Pork prices rose from $0.8147 to $0.9493 per pound, or 16.5%.

Dynamics of cattle meat and pork on the CME exchange in January

1 lb = 0.45359237 kg

In 2021, the agricultural futures market made a huge leap up. Quotations of many agricultural crops and their products rose by tens of percent by the end of the year. The meat segment of the market is no exception. Real negative events in the world, such as the covid-19 pandemic, led to this, ASF, summer drought in the northern hemisphere of the planet, gas crisis in Europe and many other factors. The increase in prices for feed raw materials has significantly increased the cost of production of meat and its products. The derivatives market immediately reacted to these phenomena with growth. However, in 2021, the futures market, after the stock market failures in 2020, again appreciated the taste of meat. The outbreak of the COVID-19 pandemic, swine ASF and the promotion of green food did not break people's desire to eat hamburgers, steaks and kebabs. Quotations of cattle meat in live weight and fattening cattle meat have risen by almost the same level - more than twenty percent. The growth of quotations of pork meat was less - just above fifteen percent

In total, in 2021, live weight quotations for cattle meat increased from $1.1503 to $1.397 per pound, or by 21.4%. Quotations of fattening cattle rose from 1.4023 to 1.6995 dollars per pound, or 21.2%. Pork prices rose from $0.7028 to $0.8147 per pound, or 15.9%.