News

Check out how the price of cattle behaved at the beginning of the week in Brazil

Published May 21, 2024

Tridge summary

The article highlights the fluctuation in the cattle market in Brazil, with prices varying across the main production and marketing areas. Despite stable overall supply, some transactions recorded prices below average. Meatpacking companies are withholding from purchasing cattle, seeking to strategize amidst worn-out pastures and limited retention due to minimal rainfall in the Center-North region. As a result, the wholesale beef market has seen a significant decrease in prices, with expectations for this trend to persist due to reduced demand. Additionally, the commercial dollar experienced a slight increase.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The physical cattle market recorded prices that were accommodated in the country's main production and marketing areas. However, according to Safras & Mercado analyst Fernando Henrique Iglesias, there were still records of deals carried out below the average references. Many meatpacking companies are absent from purchasing cattle, evaluating the best strategies for the rest of the week. The fundamental picture is still one of representative supply. “Industries do not encounter much difficulty in composing their slaughter schedules, just as pastures remain worn out in a large part of the country, making retention difficult, with timid rains in the Center-North of Brazil”, says Iglesias. The wholesale market started the week with a sharp drop in beef prices. According to Iglesias, the business environment still suggests that this movement will continue in the short term, mainly due to the slowdown in demand in the second half of the month. The rear quarter was priced at R$17.30, a ...
Source: CanalRural
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