In the United States, the cattle inventory is the lowest since 1951

Published Feb 16, 2024

Tridge summary

In January 2024, Brazilian beef exports experienced a 9.3% decline compared to the previous year, with China remaining the primary importer despite a 3.1% drop in purchases. Paraguay's beef exports also saw a 2% decrease. In contrast, Australia reported a significant surge in beef exports, amounting to 75,585 tons, with the United States being the main buyer, purchasing over double the volume compared to January of the previous year. The US national cattle inventory has shrunk by 2%, hitting its lowest level since 1951.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to data from the Ministry of Foreign Trade compiled by the Brazilian Association of Meat Processing Plants (Abrafrigo), shipments of fresh and processed beef totaled 235.3 thousand tons, contributing income of 930.6 million dollars, 9.3% less than generated a year ago. The average price was USD3,950 per ton, which represents a decrease of 14.6% in the annual comparison. China continues to be the main importer of Brazilian beef, despite having purchased 97 thousand tons, 3.1% less in January 2024, at an average value of USD 4,404, which is 9% lower. Beef exports jumped 17.7% in January compared to a year ago, totaling 39,517 tons compared to 33,579 in January of last year. As analyzed by the consulting firm Blassina y Asociados, based on data published by INAC, the main destination continues to be China, where 17,730 tons went, narrowing the interannual gap to 7.4% compared to what was exported a year ago. Likewise, its participation in the total fell markedly to 45%. ...

Source: Agromeat