Brazil beef exports continue to climb
Beef carcass prices rose above BRL 23/kg
22 November 2024
1 minute read
By: Prices for all categories of animals in Brazil have been increasing for three months, according to a recent market report from Cepea. Exports hit a record in September, which was surpassed in October, and the price average of beef in November is already higher than in months before, encouraging shipments.
Data from IBGE indicate that the number of animals slaughtered rose 3.7% in the third quarter of the year against the period from April to June.
As for sales to the international market, meatpackers exported 42% more in October compared to the same month last year and an increase of 5% against September (considering in natura and processed beef). It is the highest monthly volume ever registered. In the annual comparison, the volume in the ten first months of 2024 is 29% higher – data from Secex.
Beef carcass prices have been above BRL 23/kg, hitting daily records, according to Cepea data.
The firm demand and the proximity of the holidays lead players from the retail market to search for the product, paying higher values in the wholesale market.
As for the fed cattle, Cepea researchers say that difficulties to close new trades of animals to slaughter continue. The CEPEA/B3 Index for fed cattle prices averaged BRL 344.20 on November 18, upping 8% in November (up to Nov. 18).
