Atten Babler Meat FX Indices – Aug ’15
The Atten Babler Commodities Meat Foreign Exchange (FX) Indices continued to increase to new record high levels during Jul ’15. The USD/Domestic Meat Importer FX Index increased the most throughout the month, followed by the USD/Meat Importer FX Index and the USD/Meat Exporter FX Index.
Global Meat Net Trade:
Major net meat exporters are led by Brazil, followed by the U.S., the EU-28, India and Australia (represented in green in the chart below). Major net meat importers are led by Japan, followed by Russia, Mexico, Hong Kong and Saudi Arabia (represented in red in the chart below).
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 2.2 points in Jul ’15 to a new record high value of 150.8. The USD/Meat Exporter FX Index has increased 28.9 points since the beginning of 2014 and 12.4 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 (represented in green in the Global Meat Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Brazilian real and Argentine peso 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 5.9 points in Jul ’15 to a new record high value of 215.6. The USD/Meat Importer FX Index has increased 35.8 points since the beginning of 2014 and 11.6 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries (represented in red in the Global Meat Net Trade chart), making U.S. meat more expensive to import. USD appreciation against the Russian ruble and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
U.S. Meat Export Destinations:
Major destinations for U.S. meat exports are led by Mexico, followed by Japan, China, Canada, and Hong Kong.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 6.1 points in Jul ’15 to a new record high value of 212.2. The USD/Domestic Meat Importer FX Index has increased 38.7 points since the beginning of 2014 and 18.7 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 (represented in red in the U.S. Meat Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Angolan kwanza and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 2.2 points in Jul ’15 to a new record high value of 150.8. The USD/Meat Exporter FX Index has increased 28.9 points since the beginning of 2014 and 12.4 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 (represented in green in the Global Meat Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Brazilian real and Argentine peso 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 5.9 points in Jul ’15 to a new record high value of 215.6. The USD/Meat Importer FX Index has increased 35.8 points since the beginning of 2014 and 11.6 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries (represented in red in the Global Meat Net Trade chart), making U.S. meat more expensive to import. USD appreciation against the Russian ruble and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
U.S. Meat Export Destinations:
Major destinations for U.S. meat exports are led by Mexico, followed by Japan, China, Canada, and Hong Kong.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 6.1 points in Jul ’15 to a new record high value of 212.2. The USD/Domestic Meat Importer FX Index has increased 38.7 points since the beginning of 2014 and 18.7 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 (represented in red in the U.S. Meat Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Angolan kwanza and Mexican peso has accounted for the majority of the gains since the beginning of 2014.