Ranchers in Brazil absorbed a new low on the last business day of October

The last business day of October continued to show a consumer with low purchasing power, generating little movement in the beef market and, with that, the slaughterhouses showed little willingness for new acquisitions, while on the other hand, the ranchers presented greater offers of the ruminant. The combination of these factors acting negatively on the closings with the cattle ranchers imposed a new price drop in the business carried out with the live cattle. The result of the new low – 1st of the week, 6th of the month, 24th of the year – was an average price that dropped 4.8% in relation to the price received at the beginning of the month. Even so, it still signals an increase of almost 7.8% over the same ...