Brazil beef exports expected to remain strong in 2024
Domestic consumption could see some recovery
16 January 2024
1 minute read
By: Brazilian exports of beef are expected to continue to be strong in 2024. Domestic demand is expected to recover. Supply could drive prices of both fed cattle and beef this year, according to a recent market report from Cepea.
The influence of international sales on the development of the Brazilian fed cattle activity and on the sustaining of domestic prices is consolidated. The Brazilian industry meets the needs of clients in different parts of the world.
As for the domestic market, inflation tends to be more controlled, and the GDP may register a slight increase. These conditions could increase the demand for beef – Cepea calculations indicate that 'in natura' beef consumption could move up 1.79% in 2024. Despite being a slight increase, it is a positive aspect, especially because of the consumption decrease in previous years.
As for supply, annual seasonality shows that from March on the volume available will likely increase, pushing prices down.
Another aspect that can indicate supply increase in some areas in the coming months comes from the dairy sector. Milk prices are low and feeding costs are high, a scenario that could lead producers to slaughter less productive cows.
