Brazil: Beef exports expected to remain firm in 2024

Frozen Bone-In Beef

Meat

Brazil

Market & Price Trends

Published Feb 14, 2024

Tridge summary

Brazilian beef exports are projected to remain robust in 2024, with a slight recovery in domestic demand. The exchange rate is expected to remain around R$5/US$, making Brazilian meat competitive in the global market. The US, a key competitor, is likely to reduce its production by 6%, potentially opening up markets like South Korea and Japan for Brazilian meat. Domestic consumption of fresh beef is expected to increase by 1.8% in 2024. However, supply uncertainties exist due to potential El Niño impacts, reduced investment in reproduction, and possible slaughter of less productive dairy cows.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In this new year, the outlook is that beef exports will remain firm. Domestic demand should recover somewhat, but production leaves room for doubts about more pronounced fluctuations throughout the year. It is mainly from “offer” that could be the motivation for increases or decreases in the prices of arroba and meat in the course of 2024. The contribution of foreign sales to the development of Brazilian livestock and the support of domestic prices is consolidated. The Brazilian industry has become professional in serving customers in different parts of the world and finds livestock suppliers to supply animals to different markets. According to the Central Bank's Focus Bulletin, the exchange rate should remain around R$5/US$, a level that keeps Brazilian meat competitive and gives momentum to the growth in sales that has already been seen. The situation of competitors also needs to be analyzed. The main one, the United States, is expected to reduce its production by around 6% in ...

Source: Opresenterural