NASHVILLE, TENN. (RFD-TV) — The FAO Food Price Index for November reveals global food prices are continuing a downward trend. The index fell by more than 1 percent last month, marking the third straight month of declines.
Dairy, meat, sugar, and vegetable oil indices all fell, with sugar seeing the most significant drop at nearly 6 percent.
The cereal index was the only one to gain, rising just shy of 2 percent.
The overall index remains 22 percent off the record highs we saw back in March 2022.
Related Stories
U.S. Wheat Associates is expanding into global fish feed markets, with early gains in South America and new opportunities emerging in Ecuador’s shrimp industry.
Cattle analysts say the U.S. beef cattle herd rebuild still faces major hurdles despite some minor positive signals noted in certain regions.
Industry leaders say labor shortages and visa caps are putting pressure on the future of domestic shrimping.
USDA says planting progress remains strong nationwide, though some soybean fields are still slow to emerge.
The lower outlook follows months of drought stress across major winter wheat regions, where some producers have abandoned fields or shifted acres to grazing instead of harvest.
Cattle producers may get some credit relief, but land and facility borrowing costs likely remain high.
