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TheBeefSite Latest News
Wednesday, May 14, 2008
Print This Page Brazilian Exports Down 15% on 2007 in April
AUSTRALIA -Brazil’s beef exports totalled 89,516 tonnes swt in April, down 15% year-on-year, but 6% higher than volumes sent in March 2008. Over the period, average export prices increased to US$3,439/tonne, but were still lower than January’s record high value of US$3969/tonne – before the EU partially banned exports from Brazil.
The main factors affecting exports included; rising input costs, an increasingly strong domestic currency (real) and competition from the domestic market. These factors have encouraged meatpackers to pass costs onto consumers, as global demand is strong, but to also reduce their operating capacity to between 50 and 80%.
The cattle market has been tight and heavy steer prices increased to around US151¢/kg lwt in March, reflecting scarce cattle supply and herd rebuilding after the high slaughter (especially females) registered in 2006 and early 2007 to supply booming domestic and international demand.
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