Source: Susan Kelly, MEATINGPLACE, 7/9/18



After climbing throughout this year, global food commodity prices fell in June, largely due to heightened tensions in international trade relations, the Food and Agriculture Organization of the United Nations said.

The FAO’s food price index declined 1.3 percent in June from its level in May, the first month-over-month decline in 2018, with most markets taking on a weaker tone recently because of the escalating trade tensions, the organization said.

Cereal prices, which include corn and wheat, fell 6.4 percent from May despite worsening production prospects, FAO said.
The meat price index, edged up marginally -- 0.3 percent -- from May but was down 3.3 percent from June 2017. Sheep meat values and pork prices drove the rise in June, with firm demand especially in Europe supporting pork.

Beef and poultry quotations were down slightly. Large export supplies from Australia weighed on global beef prices, while ample export availability, especially from Brazil, and weak import demand pressured poultry prices.

For more stories, go to www.meatingplace.com.