Brazil beef supply hits record highs in domestic market - Cepea
Beef carcass prices dropped 7.65% in July over January
22 July 2024
2 minute read
By: Beef availability in Brazil hit record highs in the first semester in the domestic market, according to a recent market report from Cepea. Fed cattle prices indicated this higher supply.
However, in the first fortnight of July, the volume of ready-to-slaughter animals reduced and the domestic consumption increased, scenario that boosted quotations.
Beef carcass prices are 7.65% lower in July compared to that in January in the wholesale market of the Greater São Paulo (values were deflated by the IGP-DI June/24), averaging BRL 16.07/kg this month. In relation to July 2023, the decrease is 9.21%.
On the other hand, values moved up 1.83% in the accumulated of July (up to July 15), averaging BRL 16.17 per kilo on July 15 in the wholesale market of the Greater SP. The CEPEA/B3 Index for fed cattle (São Paulo State) rose 0.6% in the same comparison, to close at BRL 226.50.
Cepea calculations based on data from IBGE and Secex indicate that the volume of beef available in the domestic market from January to June surpassed in 14.43% that observed in the same period last year, totaling roughly 3.58 million tons of beef.
According to data from Secex, in 2024, up to late June this year, 1.29 million tons of beef were shipped, 27.1% more than the previous record, in 2023. The good competitiveness of the Brazilian beef in the international scenario is favored by competitive costs and the exchange rate.
