Atten Babler Meat FX Indexes – Mar ’15
U.S. dollar (USD) strength continued within the Atten Babler Commodities Meat Foreign Exchange (FX) Indexes during Feb ’15. The USD/Meat Exporter FX Index reached a 12 year high while the USD/Meat Importer FX Index and USD/Domestic Meat Importer FX Index reached record high values.
USD/Meat Exporter FX Index:
The USD/Meat Exporter FX Index increased 3.9 points in Feb ’15 to a new high value of 142.2. The USD/Meat Exporter FX Index has increased 20.3 points since the beginning of 2014 and 16.2 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, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Argentine peso and Brazilian real has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.0 points in Feb ’15 to a new high value of 208.0. The USD/Meat Importer FX Index has increased 28.1 points since the beginning of 2014 and 24.2 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries, making U.S. meat more expensive to import. USD appreciation against the Russian ruble and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 3.1 points in Feb ’15 to a new high value of 196.6. The USD/Domestic Meat Importer FX Index has increased 23.0 points since the beginning of 2014 and 17.5 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, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Russian ruble, Mexican peso and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Importer FX Index:
The USD/Meat Importer FX Index increased 4.0 points in Feb ’15 to a new high value of 208.0. The USD/Meat Importer FX Index has increased 28.1 points since the beginning of 2014 and 24.2 points throughout the past six months. A strengthening USD/Meat Importer FX Index results in less purchasing power for major meat importing countries, making U.S. meat more expensive to import. USD appreciation against the Russian ruble and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.
USD/Meat Domestic Importer FX Index:
The USD/Domestic Meat Importer FX Index increased 3.1 points in Feb ’15 to a new high value of 196.6. The USD/Domestic Meat Importer FX Index has increased 23.0 points since the beginning of 2014 and 17.5 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, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Russian ruble, Mexican peso and Angolan kwanza has accounted for the majority of the gains since the beginning of 2014.