Low supply reinforces the upward trend in BR

Brazilian steer prices moved up in the first fortnight of October. Between Sept 28th and October 15th, the ESALQ/BM&F Index increased 3 percent in Real, closing at 63.11 reals or 34.77 dollars per arroba (15 kilos) this Monday, Oct 15th. The support keeps coming from the restrict supply in this off-season period. In general terms, few trades were settled and the plant entries remained short.

The weak behavior in the wholesale market of Sao Paulo city also reinforced the slow pace of the steer market. During the first fortnight of October, the steer carcass valuated 2.55 percent in Real, averaging 4.01 reals or 2.22 dollars per kilo this Monday.

According to the Secex (Foreign Trade Secretariat), Brazilian beef exports amounted to 98.5 thousand tons, 11 percent superior to the volume exported in August and roughly 7 percent lower than that of Sep/06.

Regarding the living hog, prices received by farmers averaged 2.44 reals or 1.35 dollar per kilo on Oct 15th in Sao Paulo state, upped 7 percent in Real over Sept 28th. In the wholesale market of Sao Paulo capital, the hog carcass valuated 5.45 percent in Real during the same period, at 3.48 reals or 1.92 dollar per kilo on Oct 15th.

In the poultry market, the frozen meat prices increased 4.5 percent in Real during the first fortnight of October, at 2.80 reals or 1.55 dollar per kilo on Oct 15th; the chilled one valuated 6.3 percent in Real, at 2.53 reals or 1.40 dollar per kilo on Monday, Oct 15th, both in the wholesale market of Sao Paulo capital - the most important Brazilian retail reference.

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