Brazil fed cattle quotations down over last year, according to Cepea

Brazil fed cattle quotations have been oscillating in 2023, but are still at lower levels compared to the year before, according to a recent market report from Cepea. Taking the monthly series in 2023 into account, all price averages are lower compared to those registered in the same months of 2022, and the most significant price drop (-26%) was confirmed in September. The decline is attributed to the higher supply of animals to slaughter and to the increase of beef production this year. According to data from IBGE, beef production this year (from January to September) hit a record. In the partial of 2023, 6.39 million tons were produced, for an increase of 8.37% compared to the same period in 2022 and 4.5% more against the previous record, in 2019. Data from IBGE indicate a shift in the productive cycle in 2023, with more animals ready to slaughter. In 2023 (until September), the volume of slaughtered animals advanced 10.24% in relation to the same period last year, totaling ...