São Paulo – Brazil sold raw beef for lower prices in the third quarter compared to the previous quarter and the same period last year. So said a report disclosed on Monday (6) by Brazilian meatpacker Minerva Foods. The average dollar price of exported beef was USD 4.6 per kg from July through September, down from USD 5 in the April-through-June period and USD 6.2 in Q3 2022.
Falling prices of beef were also seen in Brazilian reais, standing at BRL 22.4 per kg in the third quarter. The previous three-month period had seen the kilo sold for BRL 24.6, while Q3 2022 had seen it at BRL 32.7. Minerva’s information is based on data from Brazil’s Ministry of Development, Industry and Trade.
Minerva reports increased slaughters in Brazil in the Q3. However, live cattle prices in the São Paulo state are on a downward trajectory, with the “arroba” – a standard 15-kilo measure used as a benchmark – falling both quarter on quarter and year on year, which also happened in dollar cattle prices. “The significant price decline reflects the high availability of cattle ready for slaughter, a result from the strong Brazilian livestock cycle,” says the company in the industry report.
Brazilian beef exports reached 541,000 tonnes from July through September, down from the 574,000 tonnes in the comparable period last year, despite a quarter-on-quarter increase. The revenue, at USD 2.5 billion, followed the same trend of quarter-on-quarter increase and year-on-year decline. China was the leading destination (pictured, Chinese consumers buying beef in supermarket), followed by Chile and the United Arab Emirates.
Translated by Guilherme Miranda
