Lower supply keeps supporting values

Brazilian cattle prices keep firm, supported by the lower supply. The ESALQ/BM&F Index upped 1.3 percent in Real between June 29th and July 16th, closing at 61.25 reals or 32.75 dollars per arroba on Monday, July 16th.

Slaughterhouses are very unhappy with the beef market, since prices decreased slightly during last days in the wholesale market of Sao Paulo city. On Monday, July 16th, the steer carcass averaged 4.63 reals or 2.48 dollars per kilo, dropping 1.5 percent in Real over June 29th.

Even with the recent beef decreases, it is important to consider that prices level remains elevated, being the highest one, in nominal terms, since October 2006. In that period, off-season peak, cattle prices were a little superior to the current values.

In June, Brazilian in natura meat exports were 23.73 percent lower than the volume exported in May, according to the Foreign Trade Secretariat (Secex). In relation to June last year, the volume exported was only 2 percent inferior.

Regarding the living hog, prices received by farmers averaged 1.76 real or 0.95 dollar per kilo on July 16th in Sao Paulo state, increase 0.57 percent in Real over June 29th. In the wholesale market of Sao Paulo capital, the hog carcass valuated 0.38 percent in Real during the first fortnight of July, at 2.65 reals or 1.42 dollar per kilo last Friday.

For poultry, the frozen poultry meat prices increased 1.2 percent in Real in the first fortnight of July, at 2.52 reals or 1.35 dollar per kilo on June 29th; the chilled one upped 8.3 percent in Real, at 2.35 reals or 1.26 dollar per kilo on Friday, June 29th, both in the wholesale market of Sao Paulo capital - the most important Brazilian retail reference.

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