Atten Babler Meat FX Indexes – Nov ’14
Overview: Atten Babler Commodities has created three Meat Foreign Exchange (FX) Indexes that are intended to indicate general trends in the competiveness of U.S. meat exports. The Indexes value the U.S. dollar (USD) against the currencies of major global meat exporting regions, major global meat importing regions and traditional U.S. meat export destinations. These Indexes will be identified in future updates by the following designations: • USD/Meat Exporter FX Index • USD/Meat Importer FX Index • USD/Domestic Meat Importer FX Index The Indexes will be updated on a monthly basis going forward with commentary provided in blog postings at the end of each month. Methodology: The USD/Meat Exporter FX Index, USD/Meat Importer FX Index and USD/Domestic Meat Importer FX Indexes are constructed using the currencies of 90% or more of the total global meat exporters, global meat importers and global importers of U.S. meat, respectively. Export and import percentages are calculated using the most recently available full year statistics offered by the USDA Foreign Agricultural Service (FAS). Currencies are weighted when valued against the USD to account for the relative importance of each region’s currency within the Indexes based on each regions percentage of total trade. FX values are provided by OANDA and are calculated on a percentage change basis, indexed to Jan ’00. Current Index Values: The USD/Meat Exporter FX Index increased 1.6 points in Nov ’14 to a new 11 year high of 132.1. The USD/Meat Exporter FX Index has increased 10.2 points since the end of Dec ’13 and 7.8 points throughout the past four months. The USD/Meat Importer FX Index increased 4.4 points in Nov ’14 to a new high of 192.3. The USD/Meat Importer FX Index has increased 12.5 points since the end of Dec ’13 and 10.4 points throughout the past four months. The USD/Domestic Meat Importer FX Index increased 2.8 points in Nov ’14 to a new high of 184.4. The USD/Domestic Meat Importer FX Index has increased 10.8 points since the end of Dec ’13 and 7.4 points throughout the past four months.