Prices for Brazilian fed cattle for slaughter operated at higher levels in October than observed in the previous month, according to the Center for Advanced Studies in Applied Economics (Cepea) of Esalq/USP. This was caused by the adjustment of supply along the chain and the good performance of beef exports.
From January to October 2023, Brazil shipped more than 1.6 million tons of fresh beef, only 5% less than the same period in 2022, when external sales were record-breaking, shows data from the Secretariat of Foreign Trade (Secex).
According to Cepea researchers, this export volume suggests that, as 2023 draws to a close, the country is consolidating, once again, as one of the most important beef suppliers in the world.
In October, external sales of fresh beef totaled 186,000 tons, the second-best result for the month, according to Secex data, only behind the record set last year.
However, the pace of business in the domestic spot market was slower in October. This was due to slower domestic meat sales and the extension of slaughter schedules by part of the industry.
On October 31st, the Cepea/B3 fed cattle indicator (state of São Paulo) closed at BRL 237.50 per arroba, a slight increase of 0.57% in October. The monthly average, in turn, was BRL 237.83, 12.07% above September but 15% below October 2022, in real terms (monthly averages were deflated by the IGP-DI September 2023).