Global meat prices hit a record high in September, driven by strong demand for beef and tighter export supplies, according to the UN Food and Agriculture Organisation.

‍

Global meat prices reached their highest level on record in September, led by a surge in beef values as supply constraints and firm consumer demand outweighed easing prices in other food categories, according to the UN Food and Agriculture Organisation (FAO).

‍

The FAO’s global food price index showed that meat prices rose 0.7% month-on-month and were 6.6% higher than in September 2024. Beef was the key driver, supported by strong U.S. demand and limited export availability from major suppliers such as Brazil. Prices for pork and poultry were broadly stable, while sheepmeat markets also strengthened due to reduced export volumes from southern hemisphere producers.

‍

Analysts note that the rebound reflects classic market dynamics — earlier reductions in global beef production have tightened supply, amplifying price pressures despite slower consumption growth. Farmers are benefiting from the correction, although some consumer resistance is emerging in premium markets like the UK, where high beef prices are reportedly weighing on restaurant demand.

‍

Broader Food Market Trends

While beef led the overall rise, other commodity prices eased. The FAO index recorded a 2.6% decline in global dairy prices, led by lower values for butter and milk powders, though prices remain 9% above last year’s levels. Cereal prices also dipped 0.6%, with abundant harvests — notably in Russia — keeping markets well supplied.

‍

Vegetable oil prices slipped slightly but remain 18% higher year-on-year, underscoring the volatility driven by weather disruptions, trade tensions, and ongoing geopolitical risks.

‍

Economists suggest the beef rally may not last indefinitely, with high retail costs likely to curb demand over time. Still, the sector’s resurgence challenges the narrative of long-term decline for red meat. For now, beef remains the standout performer in global agricultural markets.

‍

Source:The Scottish Farmer, This article is a condensed and independently written summary of original reporting and market data from The Scottish Farmer, adapted for Dalytrading.co.uk.