Cepea, November 19, 2024
CATTLE – Prices of all categories of animals have been increasing for three months. Exports hit a record in September, which was surpassed in October, and the price average of beef in November is already higher than in months before, encouraging shipments.
Data from IBGE indicate that the number of animals slaughtered rose 3.7% in the third quarter of the year against the period from April to June.
As for sales to the international market, meatpackers exported 42% more in October compared to the same month last year and an increase of 5% against September (considering in natura and processed beef). It is the highest monthly volume ever registered. In the annual comparison, the volume in the ten first months of 2024 is 29% higher – data from Secex.
Beef carcass prices have been above BRL 23/kg, hitting daily records, according to Cepea data.
The firm demand and the proximity of the holidays lead players from the retail market to search for the product, paying higher values in the wholesale market.
As for the fed cattle, Cepea researchers say that difficulties to close new trades of animals to slaughter continue. The CEPEA/B3 Index for fed cattle prices averaged BRL 344.20 on November 18, upping 8% in November (up to Nov. 18).
SWINE – The domestic demand is firm, influenced by high beef prices. The good liquidity in the meat market has been leading meatpackers to search for more batches of swine to slaughter. As a result, quotations of the live animal continue to move up, hitting nominal records of Cepea series – in real terms, the averages are the highest since 2020.
Pork meat (in natura and processed products) exports in October were the second highest of the series of Secex (since 1997) and continued to move at a good pace in early November. Sales to the international market have reinforced the scenario of low availability in Brazil, boosting prices for both the pork meat and the live animal.
POULTRY – The combination of corn price rises in the domestic market and low quotations for the live chicken in the partial of November have been pressing down the purchase power of chicken producers in São Paulo to the lowest levels since April/23. In spite of the relative stability, players surveyed by Cepea say that some agents accepted smaller values for live chicken, aiming to flow the production.
Brazilian shipments of chicken meat (in natura and industrialized products) dropped between September and October. In spite of that, both the amount exported and the revenue obtained last month are the highest of the Secex series (since 1997), considering the months of October.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
