Cattle Prices Rise In August
BRAZIL - The decline in cattle supplies during winter contributed to a two per cent increase in average Brazilian live heavy steer prices in August, to BR$3.37/kg lwt, reports Meat and Livestock Australia (MLA).
2 September 2011
1 minute read
MLA states that also assisting the increase for the month was a slight easing in the Brazilian currency.
Although Brazilian cattle marketings continued to be tight, and meatpackers struggled to increase capacity, slightly lower demand for beef in the domestic market did have some constraining influence upon prices (Cepea/Esalq).
MLA reports that the Brazilian futures market expects grown steer prices to reach a peak in November, before cattle supplies start to increase. However, the peak is forecast to be considerably lower than in 2010, partly due to higher supplies from feedlots in 2011, and more stable demand from both the domestic and international markets.
During the eight months to August, the steer indicator averaged 39 per cent higher year-on-year, at 210US¢/kg lwt (25 per cent up to BR$3.5/kg lwt).
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