The price of beef continues to fall, with the high availability of animals for slaughter weighing more than the booming consumption in domestic and foreign markets. The Cepea/B3 indicator closed yesterday (10/5) quoted at R$ 231.80 per arroba, a decrease of 0.54% in the daily comparison.
An even greater decline was in Tocantins, which registered a devaluation of 1.18% compared to the previous day’s prices, with the price of live cattle quoted on average at R$ 202.54 per arroba, according to a survey by Agrifatto.
And the futures market was no different. Prices on B3 followed the same downward trajectory, with the contract for May/24 falling 0.33%, to R$ 226.35 per arroba.
“Negative prices are a response to the voluminous supply reaching the market,” Agrifatto said in a note.
On the other hand, analysts at Scot Consultoria emphasize that “the positive point is that, even with the strong increase in supply between the last quarter of 2023 and the first of 2024, the price of cattle did not melt, as we saw in the middle of the year past, indicating good demand for beef”.
Domestic consumer demand for protein is expected to increase this weekend, as Mother’s Day approaches.
In terms of exports, Brazil shipped 208.0 thousand tons of fresh beef in April, the second highest volume in history for a single month, according to data from the federal government. Companies in the sector believe that the appetite for the Brazilian product will remain high in the coming months.
