Brazil fed cattle prices continue to decrease - Cepea
UAE sales up 245% this year
28 May 2024
1 minute read
By: Brazil fed cattle prices continue to decrease in most regions surveyed, according to a recent market report by Cepea. Although the delivery window is long in many meatpackers, the proximity of milder temperatures has been resulting in expectations of a supply increase of pasture-raised animals.
Players from meatpackers have been offering lower quotations for new deals, but only a few trades are closed at these price levels. Still, prices are moving down. The CEPEA/B3 Index for fed cattle (São Paulo State) dropped 1.24% in May (up to May 15), closing at BRL 226.50 on May 15. In the wholesale market of the Greater São Paulo, beef carcass values downed 0.73% in the same comparison, to close at BRL 16.24/kilo.
From January to April, 835.15 thousand tons of beef (in natura and industrialized) were shipped by Brazil, 37.1% up in relation to the same period in 2023, according to data from Secex. China boosted purchases by 40% and Hong Kong, by more than 15%. Between January and April this year, China purchased 374.63 thousand tons of Brazilian beef and Hong Kong, 40.21 thousand tons.
The United Arab Emirates has been in the spotlight because of the sharp increase of acquisitions of the Brazilian product, buying 245% more from January to April this year compared to the same period last year, to 64.78 thousand tons.
