BRAZIL - Brazilian beef exports during January reached 74,032 tonnes, down 30 per cent year-on-year, according to analysts at Meat and Livestock Australia.
Despite the Real depreciation during the month, which registered its lowest quotation against the US dollar since 2005 (averaging 38US?), weak demand from some of Russia’s major markets was reflected in lower shipments to start 2015.
Beef exports to Russia dropped significantly, totalling 8,490 tonnes, down 63 per cent on the previous year, the lowest monthly volume registered since 2005.
Beef shipments to Iran and Venezuela also dropped 83 per cent and 69 per cent, respectively, also contributing to the decline. In contrast, exports to Hong Kong and Egypt increased by 13 per cent and 24 per cent.
The continued tight supply of cattle ready to slaughter kept Brazilian steer prices (São Paulo state) high during January, averaging R4.76 (approximately 181US?). According to Cepea/Esalq, prices are expected to remain firm throughout the year –mainly due to ongoing limited cattle and calf supply.
TheMeatSite News Desk