Atten Babler Meat FX Indices – Jan ’16
The Atten Babler Commodities Meat Foreign Exchange (FX) Indices continued to increase to new record highs during Dec ’15. The USD/Meat Exporter FX Index increased the most during the month, followed by the USD/Meat Importer FX Index and the USD/Domestic Meat Importer 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 4.9 points in Dec ’15 to a new record high value of 168.1. The USD/Meat Exporter FX Index has increased 46.2 points since the beginning of 2014 and 19.6 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 appreciation within the USD/Meat Exporter FX Index during Nov ’15 was led by gains against the Argentine peso, followed by USD appreciated against the Brazilian real, Belarusian ruble and Canadian dollar. USD declines were exhibited against the euro.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 2.8 points in Dec ’15 to a new record high value of 229.9. The USD/Meat Importer FX Index has increased 50.2 points since the beginning of 2014 and 20.2 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 Angolan kwanza and the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Meat Importer FX Index during Dec ’15 was led by gains against the Russian ruble, followed by USD appreciated against the Mexican peso, South African rand and Kazakhstani Tenge. USD declines were exhibited against the Japanese yen.
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 2.6 points in Dec ’15 to a new record high value of 227.2. The USD/Domestic Meat Importer FX Index has increased 53.7 points since the beginning of 2014 and 21.0 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 appreciation within the USD/Domestic Meat Importer FX Index during Dec ’15 was led by gains against the Mexican peso, followed by USD appreciated against the Russian ruble, Canadian dollar, Canadian dollar, Kazakhstani Tenge and Columbian peso.
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 4.9 points in Dec ’15 to a new record high value of 168.1. The USD/Meat Exporter FX Index has increased 46.2 points since the beginning of 2014 and 19.6 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 appreciation within the USD/Meat Exporter FX Index during Nov ’15 was led by gains against the Argentine peso, followed by USD appreciated against the Brazilian real, Belarusian ruble and Canadian dollar. USD declines were exhibited against the euro.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 2.8 points in Dec ’15 to a new record high value of 229.9. The USD/Meat Importer FX Index has increased 50.2 points since the beginning of 2014 and 20.2 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 Angolan kwanza and the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Meat Importer FX Index during Dec ’15 was led by gains against the Russian ruble, followed by USD appreciated against the Mexican peso, South African rand and Kazakhstani Tenge. USD declines were exhibited against the Japanese yen.
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 2.6 points in Dec ’15 to a new record high value of 227.2. The USD/Domestic Meat Importer FX Index has increased 53.7 points since the beginning of 2014 and 21.0 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 appreciation within the USD/Domestic Meat Importer FX Index during Dec ’15 was led by gains against the Mexican peso, followed by USD appreciated against the Russian ruble, Canadian dollar, Canadian dollar, Kazakhstani Tenge and Columbian peso.