Experts Report Brazilian Cattle Price Recovery19 March 2014
BRAZIL – Beef prices across most regions have recovered and are now 20 per cent higher than last year, according to Brazil’s premier data facility.
The Centre for Advanced Studies on Applied Economics (CEPEA) has reported a limited supply of slaughter-ready animals and stronger cattle markets through February.
Increasing exports have also been linked with alleviating domestic over-supply issues.
Fed cattle increased 5 per cent last month, closing at 120.43 reals ($51.42), Sao Paulo State University’s cattle price index has reported.
Average February 2014 prices were 118.05 reals compared to 98.08 reals for February 2013.
Higher exports have been pegged at 36 per cent above the prior year for February and almost 20 per cent higher for January.
These figures appear in preliminary data from the Brazilian Foreign Trade Secretariat (Secex) which include a daily average beef export figure of 5.7 thousand tons.
Secex data shows 20-29 per cent higher earnings for the opening two months. The first fortnight of February grossed $25.2 million.
TheCattleSite News Desk