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Import/Export Price Indexes
Bureau of Labor Statistics > Import/Export Price Indexes > Home

Recent Price Trends in the Meat Industry

An overview of Animal Slaughtering and Processing price indexes

2025

Cuts of meat

U.S. Import and Export Price Indexes contain data on changes in the prices of nonmilitary goods and services traded between the United States and the world. The U.S. Bureau of Labor Statistics produces these indexes, which are Principal Federal Economic Indicators.

Q: How have import animal slaughtering and processing prices trended over the 2022–2024 period? (See chart 1)

  • Animal slaughtering and processing import prices advanced 2.0 percent from December 2021 to December 2024. The import price index for animal slaughtering and processing decreased 9.4 percent from December 2021 to December 2022. The index then increased 4.5 percent in 2023, before increasing 7.7 percent in 2024.
  • The import price index for animal slaughtering and processing reached a low point in January 2023 for the 3-year period ended December 2024, dipping 10.9 percent from December 2021 to January 2023. The index then increased 14.5 percent from January 2023 to December 2024.

Q: How did import animal slaughtering and processing prices compare with other economic data? (See chart 1)

  • Import prices trended lower compared to producer prices for the majority of the 3-year period. Like import prices, export prices trended upward overall from December 2021 to December 2024. Both producer prices and export prices ended higher than import prices over the same period.
  • The producer price index for animal slaughtering and processing increased 5.5 percent from December 2021 to December 2024. The index advanced 9.7 percent from December 2021 to June 2022. Prices declined after peaking in June 2022, decreasing 10.5 percent from June 2022 to February 2023. Then, prices drifted upward, increasing 7.4 percent from February 2023 to December 2024.

Q: How have export animal slaughtering and processing prices trended over the 2022–2024 period? (See chart 1)

  • Export animal slaughtering and processing prices rose 4.6 percent from December 2021 to December 2024. Export prices decreased 5.1 percent in 2022 and increased 1.6 percent in 2023. Export prices then increased 8.5 percent in 2024.
  • The export price index reached a low point in February 2023 for the 3-year period ended December 2024. The index then advanced 13.1 percent from February 2023 to December 2024.
View data

Q: What are the top six exporting states and territories for animal slaughtering and processing? (See chart 2)

  • In 2024, the total trade value of exported animal slaughtering and processing was $28.0 billion, up 2.9 percent from 2023. The top 6 exporting states contributed 52.9 percent of the total trade value.
  • Texas ranked first for exported animal slaughtering and processing with $3.8 billion in export trade, which accounted for 13.5 percent of total U.S. animal slaughtering and processing exports.
  • Nebraska ranked second in trade value with $2.7 billion dollars, accounting for 9.6 percent. Kansas ranked third at $2.5 billion dollars accounting for 8.9% of US trade value.
View data

Q: How are import and export price indexes useful to you?

Import and export price indexes can provide a new perspective for your trade analyses. Although many sources report domestic market prices and trade volume, IPP data are unique in measuring import and export price movement.

For example, if you are involved in the meat industry and are considering conducting business overseas, IPP animal slaughtering and processing indexes can supplement your industry research by providing long-term import and export price trends.

Q: How are import and export price indexes used?

Import and export price indexes are used for a variety of purposes:

  • In the conversion of U.S. trade figures from current dollars to constant dollars in U.S. trade statistics including the Bureau of Economic Analysis’ Quarterly Gross Domestic Product and the Census Bureau’s monthly U.S. trade statistics.
  • To assess the impact of international trade on domestic inflation and the competitive position of the United States.
  • As a tool for analyzing fiscal and monetary policy, measuring the impact of exchange rates, and escalating trade contracts.
  • To identify industry-specific and global price trends.

Last Modified Date: July 18, 2025