Current panorama of Brazilian poultry farming and challenges for 2024

The month of January 2024 brought favorable prospects for the Brazilian poultry sector, driven by the drop in costs related to soybean meal, which offset the increase in corn prices, keeping margins in positive territory. However, the competitiveness of chicken meat in the domestic market and concerns about export prices are among the challenges highlighted by Itaú BBA's Agro Consultancy. Wholesale frozen whole chicken prices in the state of São Paulo started the year with a slight drop compared to the end of 2023. Despite this, the reduction was moderate compared to previous years, recording an average of R$7.33/ kg in January, 1.1% lower than December 2023. With regard to costs, despite the increase in corn prices since December, the increase was contained in the South Region, with an increase of 1.3%, lower than the increase in poultry prices (2.2%). The poultry farming spread, strengthened for the fifth consecutive month, continued to improve in January, driven by the drop in ...