Atten Babler Meat FX Indexes – Jan ’15
U.S. dollar (USD) strength continued within the Atten Babler Commodities Meat Foreign Exchange (FX) Indexes during Jan ’15. The USD/Meat Exporter FX Index reached a 12 year high while the USD/Meat Importer FX Index and USD/Domestic Meat Importer FX Index reached record high values.
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 3.7 points in Jan ’15 to a value of 138.3, a 12 year high. The USD/Meat Exporter FX Index has increased 16.2 points since the beginning of 2014 and 14.0 points throughout the past six months. A strengthening USD/Meat Exporter FX Index reduces the competitiveness of U.S. meat relative to other exporting regions, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Argentine peso and Brazilian real has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.1 points in Jan ’15 to a new high value of 204.0. The USD/Meat Importer FX Index has increased 24.2 points since the beginning of 2014 and 22.1 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries, making U.S. meat more expensive to import. USD appreciation against the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 2.5 points in Jan ’15 to a new high value of 191.0. The USD/Domestic Meat Importer FX Index has increased 19.9 points since the beginning of 2014 and 16.5 points throughout the past six months. A strengthening USD/Domestic Meat Importer FX Index results in less purchasing power for the traditional buyers of U.S. meat, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Russian ruble, Mexican peso and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.1 points in Jan ’15 to a new high value of 204.0. The USD/Meat Importer FX Index has increased 24.2 points since the beginning of 2014 and 22.1 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries, making U.S. meat more expensive to import. USD appreciation against the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 2.5 points in Jan ’15 to a new high value of 191.0. The USD/Domestic Meat Importer FX Index has increased 19.9 points since the beginning of 2014 and 16.5 points throughout the past six months. A strengthening USD/Domestic Meat Importer FX Index results in less purchasing power for the traditional buyers of U.S. meat, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Russian ruble, Mexican peso and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.