A recent increase in the supply of female cattle has tempered fed cattle price gains in several regions monitored by Cepea. By the end of January, the sharp rise in prices for slaughter-ready female animals prompted producers to accelerate deliveries.
The CEPEA/B3 Index for fed cattle in São Paulo State saw a modest increase of 2.2% in January, closing at BRL 324.45 on the last day of the month. Meanwhile, prices for female cattle climbed 3.61%, reaching BRL 305.59.
Despite the typically sluggish demand in late January, beef sales exceeded expectations in the retail market. The quicker weight gain of female cattle, combined with pasture recovery, has further constrained the need for fed cattle to meet processing schedules.
Export Momentum
Brazil’s beef exports saw a significant boost in early 2024. In the first three weeks of January, shipments of fresh, chilled, and frozen beef rose by 26% compared to the same period last year, according to Secex. This robust export performance has helped support fed cattle prices despite domestic supply pressures.
