Brazil: Price of exported meat falls and affects the beef market

게시됨 2022년 11월 7일

Tridge 요약

The article highlights a decrease in the average prices of Brazilian beef exports in the latter half of the year, dropping from R$6,800 per ton in June to R$5,900 in October, attributed to contract renegotiations and concerns about China's lockdowns and currency devaluation. Despite this, Brazil's beef exports have seen an increase in volume, with revenue slightly decreasing in October compared to June. Analysts predict that China will import less Brazilian beef next year due to efforts to produce more domestically, but expect the demand for Brazilian meat to remain strong overall. Meatpackers are strategically lowering live cattle values to adapt to the market. BTG Pactual identifies Minerva as a good investment choice due to the expected increase in supply in Brazil, which could lessen the impact of falling margins in the United States.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Average prices for beef exported by Brazil are falling in the second half of the year, in part as a result of the renegotiations of contracts made by importers. According to data from the Department of Foreign Trade (Secex) compiled by consulting firm Safras & Mercado, the ton reached a peak of R$6,800 in June, but in October, the average dropped to R$5,900. . The country exported 152.6 thousand tons of beef (fresh, chilled or frozen) in June, when revenue reached R$ 1.4 billion. Last month, preliminary information indicates shipments of 188.6 thousand tons and revenues of R$ 1.1 billion. “This reflects the concern about the lockdowns in China, but also the devaluation of the yuan [Chinese currency] against the dollar, which weakens the purchasing power of the largest importer of Brazilian protein,” said Fernando Iglesias, an analyst at Safras & Mercado, to Value. According to him, China will import less Brazilian beef next year because it should produce 400 thousand tons more of ...

출처: Beefpoint