Brazilian beef prices hold firm amid strong exports, tight supply
Wholesale carcass quotations edge up 0.58% in March
Beef prices in the Greater São Paulo wholesale market remained firm throughout March, driven by strong export demand and limited domestic availability, according to a market report from Cepea.
Carcass quotations averaged BRL 24.44/kg on March 31, up 0.58% from Feb. 27.
Tight supplies of ready-to-slaughter cattle and sustained international demand continued to underpin prices at both the wholesale and export levels. The constrained domestic supply pushed quotations higher even during Lent — typically a softer period for beef consumption despite competition from other proteins.
The Cepea/ESALQ Index for fed cattle in São Paulo state closed at BRL 356.00 on March 31, a gain of 0.81% over the Feb. 27 reading.
Brazil's export pace remained robust, with 167,000 tonnes shipped in the first 15 producing days of March, averaging 11,137 tonnes per day, according to Secex data.