The physical cattle market continued with stable prices this Wednesday. According to the analyst at Consultoria Safras & Mercado, Fernando Henrique Iglesias, the businesses were sidelined after attempts to purchase below the average reference last week.
It seems that the forces of supply and demand are neutralizing each other at this moment. The supply of confined animals guarantees the slaughter scales of the industries. Meanwhile, year-end demand makes more aggressive downward movements impossible, said Iglesias.
The wholesale market presents firm prices for beef. According to Iglesias, the business environment still suggests continued upward movement over the last two months. It is important to mention that the search for higher value-added proteins is quite notable at this time of year, due to this seasonality the expectation is for a more intense upward movement for the hind quarter, said the analyst.
The hind quarter remains priced at R$18.70 per kilo. The front quarter was quoted at R$12.80 per kilo. The needle tip was priced at R$13.00 per kilo.
The commercial dollar ended the session up 0.68%, trading at R$4.9046 for sale and R$4.9066 for purchase. During the day, the North American currency fluctuated between a minimum of R$4.8712 and a maximum of R$4.9169.
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