FAO meat price index hits record high in June
Dairy prices fall for eleventh straight month
3 July 2026
1 minute read
By: The FAO Meat Price Index reached a new record high in June, averaging 131.0 points, up 0.4% from May and 4.0% above a year earlier, according to the Food and Agriculture Organisation's monthly food price report.
The increase was driven primarily by higher international poultry meat prices, reflecting stronger export prices in Brazil amid robust global import demand and temporarily tighter domestic availability following production adjustments. Ovine meat prices also firmed on sustained demand and limited exportable supplies.
Pig meat prices continued to fall, weighed down by ample European Union supplies and weak demand from several Asian markets. Bovine meat prices edged lower, largely due to softer quotations from Australia ahead of expected increases in export availability in the third quarter. Brazilian bovine meat export prices held broadly stable as Chinese import quotas approached full utilisation, slowing the pace of purchases.
The FAO Dairy Price Index fell 1.5% in June to 117.4 points, down 24.5% from June 2025. Prices softened across all dairy products. Skim milk powder declined slightly after five consecutive months of increases, as recovering EU output and improved US availability coincided with easing demand. Skim milk powder remained the only dairy commodity trading well above its year-earlier level.
Whole milk powder prices fell as weak Chinese import demand outweighed firm purchases from Southeast Asia and the Near East. Butter and cheese prices also declined, with improved milk availability and increased production in the EU and US supporting greater export supply and intensifying competition. Cheese prices extended their downward trend for an eleventh consecutive month, with export supplies continuing to exceed global import demand.
The broader FAO Food Price Index averaged 130.3 points in June, down 0.3% from May, with gains in vegetable oils and meat offset by declines in sugar, cereals and dairy.
