Brazil: February ends with lower prices and pressured market for live cattle

Frozen Bone-In Beef

Meat

Brazil

Market & Price Trends

Published Mar 3, 2024

Tridge summary

Brazil's physical cattle market saw a decrease in prices per arroba in February, due to the behavior of beef prices in the second half of the month. Despite this, livestock farmers increased business activity, preventing a more significant price drop. The wholesale market saw stable beef hindquarter prices at R$18 per kilo, while front cuts rose by 1.59%. Beef exports, including fresh, frozen, or chilled, generated US$651.346 million in February, with 143,478 thousand tons exported. This represents a 27.4% increase in the average daily export value, a 36.2% rise in the average daily quantity exported, and a 6.5% decrease in the average price compared to February 2023.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The physical cattle market ended the month of February with lower prices per arroba. According to Safras & Mercado analyst, Fernando Iglesias, this movement was centered on the behavior of beef prices during the second fortnight, which did not signal a great power of reaction. As a limiting factor, Iglesias emphasizes that it is important to highlight the performance of livestock farmers, who increased the pace of business throughout February, which made it impossible for prices to fall even more aggressively in Brazil. Iglesias highlights that the wholesale market presented stable prices during the month for beef hindquarter cuts, which were maintained at R$18 per kilo. The prices of front cuts increased by 1.59% during February, going from R$12.60 to R$12.80. Exports of fresh, frozen or chilled beef from Brazil generated US$651.346 million in February (15 working days), with a daily average of US$43.423 million. The total quantity ...

Source: CanalRural