BRAZIL - The limited supply of cattle ready for slaughter has supported Brazilian steer prices maintaining record levels, according to Meat and Livestock Australia.
For the January to October period this year, steers at São Paulo state averaged R4.16/kg lwt (approximately US$1.78 kg/lwt), up 23 per cent year-on-year in Real (Brazilian currency) terms according to statistics from Cepea/Esalq.
The consequently higher wholesale prices reported in the domestic market and the Real depreciation against the US dollar, which saw it down by nine per cent on the previous year, averaging 0.43 US?, has helped boost beef exports, with total shipments for the January to November period at 1.12 million tonnes.
Shipments to Russia, Hong Kong, Venezuela and Iran have remained high over the period.
Brazil has recently regained official access to the Chinese market, with eight beef plants currently approved and it is reported that there will be more 11 in the near future.
Before the ban, Brazilian beef exports to China increased substantially, from 2,680 tonnes in 2011, to 16,630 tonnes in 2012 - with frozen beef making up 99 per cent of the total.
TheMeatSite News Desk