Brazil: Meat prices recover and signal further improvements after carnival, says analyst

Frozen Bone-In Beef
Market & Price Trends
Published Feb 12, 2024

Tridge summary

Brazil's physical cattle market has maintained stable prices, with a potential increase in purchases expected post-Carnival due to a reduction in slaughter schedules. Meat prices are showing signs of recovery, with predictions of a continued upward trend in the wholesale market. The injection of wages into the economy has had a positive impact on meat prices. Furthermore, exports of fresh, frozen or chilled beef from Brazil saw a 5.9% increase in January, generating US$821.784 million, compared to the same period in 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 registered stable prices throughout the week. According to Safras & Mercado analyst, Fernando Henrique Iglesias, the business environment points to a shortening of slaughter schedules in several regions of the country, which could lead to greater purchasing appetite when negotiations resume after the Carnival holiday. For Iglesias, meat prices have already signaled recovery during this week, with room for this movement to continue in the short term. The arroba prices of live cattle in the forward modality in the country's main marketing areas were as follows last Friday, February 8th: The wholesale market presented final prices for beef throughout the week. The business environment still suggests the continuation of the upward movement during the first fortnight of the month, a period marked by greater appeal to consumption. The entry of wages into the economy was the main driver of this movement, which positively influenced the price behavior of all ...
Source: CanalRural
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