Global meat prices decline in 2023 - FAO Meat Price Index

International pork prices fell in December, supported by continued weak demand for imports from Asia, despite rising seasonal domestic sales in some exporting countries.

FAO Pork Price Index. Source: FAO.

Meanwhile, beef and poultry prices also fell, reflecting weaker buying interest in Asia as well as ample EXPORT supplies from major producing regions. In contrast, lamb prices rose after two straight months of declines due to increased demand ahead of the holidays and reduced supplies for slaughter in Oceania as recent rains eased pressure to ship animals to slaughter.

Overall, the FAO MEAT Price Index averaged 114.6 points in 2023, down 4.2 points (3.5%) from 2022 due to increased export opportunities from leading exporting regions amid lower import demand from key meat importing countries, reflecting lower annual averages for beef, poultry and lamb, partially offset by higher average pork prices.

FAO Meat Price Index. Source: FAO.