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. 2021 Aug 5;11(8):2314.
doi: 10.3390/ani11082314.

Introducing the World's First Global Producer Price Indices for Beef Cattle and Sheep

Mohamad Isam Almadani  1 , Peter Weeks  2 , Claus Deblitz  1
Affiliations

Introducing the World's First Global Producer Price Indices for Beef Cattle and Sheep

Mohamad Isam Almadani et al. Animals (Basel). .

Abstract

While international beef and sheep meat price developments are usually measured with meat trade prices (provided by FAO), no comparable information exists on world average of national prices that producers receive for livestock. This paper aims to fill this gap by introducing a set of global producer price indices representing cattle, lambs, and sheep prices as received by producers: the agri benchmark of weaner cattle, finished cattle, lambs and lambs and sheep price indices. These Laspeyres, production-weighted indices measure changes in global farm gate prices as provided annually by the agri benchmark Beef and Sheep Network, with this paper covering prices between 2000 and 2019. The results showed that growing Asian imports, local economic developments in South America, the interconnection with the dairy sector in Europe, growth of beef consumption in China and exchange rates shifts are the key factors that drove developments of global beef producer prices over the past 20 years. Droughts in Oceania and the rapid rise in China's sheep meat prices are highly reflected in the Global Lambs and Lambs and Sheep Meat Price indices. The indices indicate whether cattle and sheep producers globally are receiving more, or less, for the commodity and may increase or reduce production and investment accordingly. This will be of more use if there were similar producer price indices for competing enterprises, such as dairy and cropping, and for competing proteins, such as pigs, poultry, and fish.

Keywords: finished cattle; lambs; producer price index; sheep; weaner cattle.

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Conflict of interest statement

The authors declare no conflict of interest.

Figures

Figure 1
Figure 1
The Global Finished Cattle Producer Price Index FPPI, source: own illustration.
Figure 2
Figure 2
The Global and North America Finished Cattle Producer Price Indices FPPIs, source: own illustration.
Figure 3
Figure 3
The Global and South America Finished Cattle Producer Price Indices FPPIs, source: own illustration.
Figure 4
Figure 4
The Global Finished Cattle Producer Price Index FPPI vs. Brazil (a) and Argentina (b) Finished Cattle Producer Price Indices FPPIs and currency exchange indices, source: own illustration.
Figure 5
Figure 5
The Global and Europe Finished Cattle Producer Price Indices FPPIs, source: own illustration.
Figure 6
Figure 6
The Global and China Finished Cattle Producer Price Indices FPPIs, source: own illustration.
Figure 7
Figure 7
The Global Weaner Cattle Producer Price Index WPPI and Finished Cattle Producer Price Index FPPI, source: own illustration.
Figure 8
Figure 8
The Finished Cattle Producer Price Index FPPI and Weaner Cattle Producer Price Index WPPI in North (a) and South America (b), source: own illustration.
Figure 9
Figure 9
The Global and Oceania Lambs Producer Price Indices LPPIs, source: own illustration.
Figure 10
Figure 10
The Global and Europe Lambs Producer Price Indices LPPIs, Source: own illustration.
Figure 11
Figure 11
The Global and Iran Lambs Producer Price Indices LPPI, source: own illustration.
Figure 12
Figure 12
The Global and China Sheep Meat Producer Price Indices SPPIs, source: own illustration.
Figure 13
Figure 13
The Global Sheep Meat Producer Price Index SPPI without China, in comparison with the Global Sheep Meat Producer Price Index SPPI and the Global Lambs Producer Price Index LPPI, source: own illustration.
Figure 14
Figure 14
The Global Sheep Meat Producer Price Index SPPI (without China) in comparison with Algeria and Iran Sheep Meat Producer Price Indices SPPIs, source: own illustration.
Figure 15
Figure 15
The Global Finished Cattle Producer Price Index FPPI and the FAO Bovine Meat Price Index, source: own illustration, FAO index [63].
Figure 16
Figure 16
The Global Lambs Producer Price Index LPPI and the FAO Ovine Meat Price Index, source: own illustration, FAO index [63].
Figure 17
Figure 17
The Global Sheep Meat Producer Price Index SPPI, the Global Sheep Meat Producer Price Index SPPI (without China), and the FAO Ovine Meat Price index, source: own illustration, FAO index [63].
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