Live cattle market declines in Brazil with large supply of females

Frozen Bone-In Beef

Meat

Brazil

Market & Price Trends

Published Mar 11, 2024

Tridge summary

Over the past week, live cattle prices have seen a decline due to an abundance of females, enabling slaughterhouses to maintain steady schedules. Despite this, the wholesale market has experienced a rise in prices, with the hind quarter and front quarter increasing by 2.78% and 1.56% respectively. Good pasture conditions are preventing further drops in cattle numbers. Meanwhile, Brazil's exports of fresh, frozen or chilled beef generated US$810.823 million in February, marking a 32.2% increase in the average daily export value 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 market for live cattle showed a drop in prices over the last week, amid the good availability of females, which helped slaughterhouses to enjoy comfortable slaughter schedules. According to Safras & Mercado analyst, Fernando Iglesias, in the short term, attempts to purchase meatpackers at lower prices are still expected to continue. On the other hand, the cattle rancher's ability to pace his business, given the good conditions of the pasture, limits a further drop in the number of cattle. Iglesias points out that the wholesale market presented higher prices throughout the week. The business environment still suggests a continuation of the movement in the short term, considering the entry of wages into the economy as a motivating factor for replacement between wholesale and retail. The hind quarter was priced at R$18.50 per kilo, an increase of 2.78% compared to R$18.00 per kilo last week. The front quarter rose 1.56%, going from R$12.80 per kilo to R$13.00 per kilo. ...

Source: CanalRural