Atten Babler Meat FX Indices – Mar ’16
The Atten Babler Commodities Meat Foreign Exchange (FX) Indices continued to increase to new record high levels during Feb ’16. The USD/Domestic Meat Importer FX Index increased the most during 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 2.3 points in Feb ’16 to a new record high value of 179.3. The USD/Meat Exporter FX Index has increased 57.4 points since the beginning of 2014 and 22.7 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 Feb ’16 was led by gains against the Argentine peso, followed by USD appreciated against the Belarusian ruble. USD declines were exhibited against the Canadian dollar, euro and Brazilian real.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.0 points in Feb ’16 to a new record high value of 244.5. The USD/Meat Importer FX Index has increased 64.8 points since the beginning of 2014 and 23.3 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 Feb ’16 was led by gains against the Angolan kwanza, followed by USD appreciated against the Russian ruble, Ukrainian hryvnia and Mexican peso. 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 5.7 points in Feb ’16 to a new record high value of 246.0. The USD/Domestic Meat Importer FX Index has increased 72.5 points since the beginning of 2014 and 27.7 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 appreciation within the USD/Domestic Meat Importer FX Index during Feb ’16 was led by gains against the Angolan kwanza, followed by USD appreciated against the Mexican peso and Russian ruble. USD declines were exhibited against the Canadian dollar and Japanese yen.
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 2.3 points in Feb ’16 to a new record high value of 179.3. The USD/Meat Exporter FX Index has increased 57.4 points since the beginning of 2014 and 22.7 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 Feb ’16 was led by gains against the Argentine peso, followed by USD appreciated against the Belarusian ruble. USD declines were exhibited against the Canadian dollar, euro and Brazilian real.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.0 points in Feb ’16 to a new record high value of 244.5. The USD/Meat Importer FX Index has increased 64.8 points since the beginning of 2014 and 23.3 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 Feb ’16 was led by gains against the Angolan kwanza, followed by USD appreciated against the Russian ruble, Ukrainian hryvnia and Mexican peso. 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 5.7 points in Feb ’16 to a new record high value of 246.0. The USD/Domestic Meat Importer FX Index has increased 72.5 points since the beginning of 2014 and 27.7 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 appreciation within the USD/Domestic Meat Importer FX Index during Feb ’16 was led by gains against the Angolan kwanza, followed by USD appreciated against the Mexican peso and Russian ruble. USD declines were exhibited against the Canadian dollar and Japanese yen.