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Cepea, April 3, 2024
CATTLE – The fact that some meatpackers are now allowed to export to China has not boosted the demand yet. The slow pace of beef trades in the domestic market, the long delivery window and the proximity of months with lower temperatures in Brazil (when pastures conditions are not good and cattle farmers are forced to increase the supply) keep prices down. Moreover, the supply has been relatively high.
As for the domestic demand, the weak purchase power of consumers limits the acquisitions of beef. The tradition to avoid consuming red meat in the Lent period is one of the factors that pressed sales down in Brazil in late March.
The impacts of low income have been verified in prices of boned beef in the wholesale market of the Greater São Paulo. Forequarter quotations (cheaper cuts), for instance, increased 4.1% in 2024 (up to March 26), while hindquarter values (more expensive cuts) moved down 12.5%. Beef carcass prices dropped 8% this year, to close at BRL 16.19/kg on March 26.
EXPORTS – Brazilian beef exports moved at a slow pace in the third week of March. According to data from Secex, daily shipments were limited to 7.6997 thousand tons up to March 15, totaling 884.67 thousand tons in the partial of this month. In February, the daily average was 9.43 thousand tons.
SWINE – Prices paid for the live pig in the independent market and for the pork meat in the wholesale market of the Greater São Paulo dropped in the first fortnight of March, but increased in the second half of the month. In some areas surveyed by Cepea, the upward trend at the end of the month boosted the monthly average in March against February; however, in other regions, significant price drops in early March resulted in a decrease of the monthly price average.
At the beginning of the month, the higher supply compared to the demand pressed down quotations for both live pigs and pork meat. In the second fortnight of March, however, the supply has adjusted with the demand, boosting prices a little.
POULTRY – Average prices of many chicken products in March were below values verified in February. Players surveyed by Cepea say that the downward trend is related to the weak demand for the chicken meat and the low liquidity observed during the month.
(Cepea-Brazil)
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Fonte: Cepea