Steer future market shows a new level of prices

The ESALQ/BM&F Index for the steer (Sao Paulo state) has been keeping above than 75.00 reals or 43.60 dollars per arroba (15 kilos) since Feb 15th. On Friday, Feb 29th, the Index averaged 75.48 reals or 44.64 dollars per arroba, increasing 1.45 percent in Real over Jan 31st. The support remains coming from the restricted supply. In the wholesale market of Sao Paulo city, beef prices also moved up - the steer carcass increased 1.62, closing at 4.38 or 2.59 dollars per kilo on Feb 29th.

At the Sao Paulo Mercantile Exchange (BM&F), on Feb 29th, the value traded for the contract May/08, month that traditionally presents the lowest quotations, was of 71.82 reals or 42.49 dollars, superior to the prices during October and beginning of November last year - typical period of high values. It means that the Brazilian cattle livestock should have been showing a new level of prices.

Regarding the living hog, prices received by farmers averaged 2.46 reals or 1.45 dollar per kilo on Feb 29th in Sao Paulo state, increasing more than 7 percent in Real over Jan 31st. In the wholesale market of Sao Paulo capital, the hog carcass valuated 3.4 percent in Real during the same period, at 3.64 reals or 2.15 dollars per kilo on Feb 29th.

In the poultry market, the frozen meat prices upped 3 percent in Real in the accumulated of February, at 2.55 reals or 1.51 dollar per kilo on Feb 29th; the chilled one decreased slight 0.26 percent in Real, at 2.25 reals or 1.33 dollar per kilo on Friday, both in the wholesale market of Sao Paulo capital - the most important Brazilian consumer reference. (Cepea - Brazil)

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