Weekly beef and dairy digest: US meat industry faces tough scrutiny and China ups its dairy capacity

 

Jim Wyckoff, Commentary, The Cattle Site

04 June 2021

 

FAO data shows that global food prices are surging while US meat industry practices are put under the government spotlight.

 

Latest news from the global beef industry

 

Global food prices at their highest level since 2011

 

Global food prices climbed 4.8% from April to May, with prices now up a dramatic 39.7% from year-ago, according to the food price index released by the Food and Agriculture Organization of the United Nations (FAO). The monthly gain was the largest since October 2010. The index has climbed for 12 straight months, with the index now at its highest level since February 2011.

 

“The sharp increase in May reflected a surge in prices for oils, sugar and cereals along with firmer meat and dairy prices,” FAO says. Also of note, while FAO is calling for record-setting global cereal production in 2021-22, it expects just a “marginal” increase in stocks. Global wheat production is expected to edge 1.4% higher in the coming marketing year to 785.8 million metric tonnes (MMT).

 

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Updates from the global dairy industry

 

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https://www.thecattlesite.com/news/57014/weekly-beef-and-dairy-digest-us-meat-industry-faces-tough-scrutiny-and-china-ups-its-dairy-capacity/