Live cattle price drops in Mato Grosso

Live cattle price drops in Mato Grosso
Live cattle price drops in Mato Grosso
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The data is available in Radar Agro Mensal, a report published by the consultancy Agro do Itaú BBA

The live cattle market in Mato Grosso continued to face pressure in March, driven by abundant cattle supplies. The Cepea indicator registered a decline of 2.2% until the 22nd (R$ 233.15/@), compared to February 2024.

Wholesale carcass prices also decreased, although to a lesser extent than live animal prices, resulting in a more favorable spread for slaughterhouses, reaching 6.9%, the highest ever recorded for the month of March.

Slaughter data provided by the Mato Grosso Agricultural Defense Institute (INDEA) reveals a significant volume of cattle. In February 2024, 615 thousand heads were slaughtered, an increase of 37% compared to February 2023, considering the number of working days. Projections for March indicate even more pronounced growth, with a significant volume of females. Although this represents pressure on supply in the short term, it will also contribute to a reduction in calf production next year, which will enhance the recovery in calf prices.

In the export segment, the spread is also recovering, not due to an improvement in exported meat prices, which have only stagnated in recent months, but rather due to the drop in the cost of cattle. In February, the volume of fresh beef shipped reached 179 thousand tons, recording the best performance for the month in history, which resulted in a 25.9% growth in exports in the first two months of 2024 compared to the same period in the previous year. last year.

According to an analysis by Itaú BBA, the coming months should maintain a good availability of cattle due to the harvest period, with a generally favorable supply until June. On the other hand, exports have the potential to continue contributing to reducing supply.

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The article is in Portuguese

Brazil

Tags: Live cattle price drops Mato Grosso

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