The price of beef could be even lower in Brazil, says analyst

Published Jun 17, 2024

Tridge summary

The Brazilian cattle market experienced a week of stable to lower prices, preventing a potential drop due to the appreciation of the dollar against the real and the expectation of future price increases. The large volume of beef exports in 2024 is also contributing to stabilizing beef prices. As of June 13th, the prices for live cattle in installments remained unchanged at R$ 17 and R$ 12.50 per kilo for the hind and front quarters, respectively. Exports of fresh, frozen or chilled beef from Brazil in June generated US$258.467 million, with a daily average of US$51.693 million and a total of 57,944 thousand tons exported.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The physical cattle market recorded a week of more accommodating prices, from stable to lower, in the main commercial markets in Brazil. According to Safras & Mercado analyst, Fernando Iglesias, the exchange rate movement throughout the week, with the appreciation of the dollar against the real, kept livestock farmers out of business, believing that the animals will be able to work with a greater potential for rising prices in the short term. term. Iglesias details that the fact that beef exports are completely exceeding expectations in 2024, with a large volume of product shipped, helps to prevent the price of beef from having even greater drops, in a year marked by the significant quantity of animals offered on the market. The prices for live cattle in installments in the country's main marketing areas were as follows on June 13th: Iglesias highlights that the wholesale market faced accommodating prices throughout the week and the business environment still suggests little room ...
Source: CanalRural
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