Brazilian Cattle Prices Ease In May
BRAZIL - Brazilian grown steer prices have eased since late April, largely the result of a slightly higher supply of cattle and the difficulty in passing high beef prices through to end users.
1 June 2011
1 minute read
Brazilian consumers have been increasingly switching to lower priced chicken - which is expected to account for 46 per cent of total meat consumption in Brazil. In comparison, beef is expected to account for 39 per cent and pork 15 per cent of total meat consumption.
Local cattle producers have increased marketings of heavy cattle in recent weeks, given the seasonal decrease in rain and lower temperatures. However, processors continue to operate at low capacity, with a reported 43 per cent capacity utilisation in Mato Grosso, the state with the largest herd in Brazil.
However, local analysts expect cattle prices to resume an upward trend towards the second half of the year, probably averaging higher than in 2010.
TheCattleSite News Desk
