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The ESALQ/BM&FBovespa Index for fed cattle represents a weighted average of trades settled in São Paulo State, in Reals (Brazilian currency) per arroba (15 kilos). Term prices are converted into cash prices by discounting the CDI tax.
That was the first Index of prices developed by Cepea, created by a partnership with Sao Paulo Mercantile Exchange (BM&FBovespa), to be used as a reference for the future market of BM&F. It has been published every day since March 1994, after 6:00 p.m. (Brasilia time). The Index is also used by Banco do Brasil (Bank of Brazil) to warrant CPR, by Carrefour and other companies as a reference for trades.
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