The fact is that calves continue to be a positive highlight among the agricultural commodities monitored by Farmnews (Figure), falling less than cattle, soybeans and corn in the year. On the other hand, considering only the first half of November, soybeans were the highlight of the increase, while corn and veal remained practically stable and beef cattle showed a slight drop.
The following Figure illustrates the accumulated variation in the nominal price of cattle (Cepea), calves (Mato Grosso do Sul), corn (Cepea) and soybeans (Cepea, Paranaguá-PR), throughout 2023.
The price of live cattle fell by 2.6% between the end of October and the first half of November, although the futures market signals better prices for the arroba for the final months of the year.
Well, despite the price of the animal ready for slaughter accumulating a slight drop in November, the live cattle futures market remains firm and projects an appreciation of the arroba, especially for the contract expiring in December. It is worth remembering that the future price of live cattle rose sharply in November and the contract for December reached the highest value since September. Click here and check it out!
The fact is that between the end of October and the first half of November, the price of live cattle (Cepea) fell 2.6%, varying from R$237.5 to R$231.3 per arroba in the period. In the year to date, up until November (14), the price of animals ready for slaughter fell 19.4%.
.Farmnews also updated data on the price of cattle, nominal average values between 2020 and the November 2023 partial. Click here and check it out!
In the year to date, up to November (14), the price of calves fell the least, with a drop of 16.7%, followed by beef cattle as mentioned, with a loss of 19.4%. Corn and soybeans, in that order, fell 30.1% and 21.4% between the end of 2022 and mid-November (14).
The price of calves (Cepea, Mato Grosso do Sul), between the end of October and part of November (14), remained practically stable, quoted at R$2,075.2 per head, like corn (Cepea), quoted at R$60.2 per bag. Soybeans (Cepea, Paranaguá-PR) rose 1.7% at the end of the first half of October.
Corn, despite stability in the first half of November, showed a strong recovery in the futures market. This is because the expected grain price for March 2024 was once again quoted above R$70.0 per bag, which had not happened since June. Click here to learn more!
Click here and receive Farmnews studies via WhatsApp!