Brazilian cattle market signals slowness

Frozen Bone-In Beef
Market & Price Trends
Published Feb 19, 2024

Tridge summary

The Brazilian physical cattle market has seen varied price trends post-Carnival, with the meatpacking industry maintaining a comfortable stock position. Livestock farmers' ability to keep animals in pasture has helped avoid significant price drops. Beef has become more competitive against other proteins, especially chicken. Despite a 3.7% drop in the average daily export value compared to February 2023, Brazil's exports of fresh, frozen, or chilled beef generated US$229.857 million in February, with a total of 50,220 thousand tons exported. This was accompanied by a 2.2% increase in the average daily quantity exported and a 5.7% devaluation in the average price.
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 faced mixed price behavior when business resumed after the Carnival holiday. According to Safras & Mercado analyst, Fernando Iglesias, throughout the week, the meatpacking industry still signaled a comfortable position in its stocks, even in a slower period in terms of business. The analyst highlights that the flow of meat was satisfactory during the first half of February, with prices rising during the period. The fact that livestock farmers still have a good capacity to retain animals in pasture, increasing the pace of business, has made it possible to contain the more aggressive movements of falling cattle prices. Iglesias points out that the wholesale market presented accommodative prices during the week, although new price adjustments are still possible in the short term, albeit in a measured manner. He adds that beef has gained competitiveness in recent weeks compared to competing proteins, especially chicken meat. The hind quarter was priced at ...
Source: CanalRural
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