Global meat prices fall amid weak import demand

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The FAO meat price index fell 0.5% in July from June due to weakening import demand for bovine, ovine, and pig meats. The drop marked the first month-on-month decline following six consecutive monthly increases. International ovine and bovine meat prices fell in July, reflecting increased supplies amid lower import demand. Weak import demand also kept pork prices stable despite the tight supply of slaughter hogs, especially in the US. However, international poultry meat prices reached an all-time high, supported by global demand and tight supply due to avian influenza outbreaks.