Beef Exports Declined 19 Per Cent In July
BRAZIL - Higher beef prices, tight supplies, a rising currency and weaker Russian and Middle Eastern markets all contributed to a 19 per cent monthly decline in Brazilian beef exports in July, to 62,767 tonnes swt, reports Meat and Livestock Australia (MLA).
10 August 2011
1 minute read
MLA state that, during July, cattle prices in Brazil strengthened, and are expected to continue to rise through to a seasonal peak in October (after reaching a yearly low in June). The higher prices, combined with a strong currency, continue to constrain Brazil's competitiveness in the global scene.
However, low demand from the Russian market during July contributed to a 34 per cent monthly fall in Brazilian shipments, to 18,027 tonnes swt.
Reportedly, the Russian market has been impacted by high stocks, along with sluggish consumer demand. Similarly, Uruguayan beef exports to Russia for July dropped 32 per cent on the previous month, to 3,811 tonnes swt, while Australian shipments fell 21 per cent, to 4,039 tonnes swt.
According to MLA, Russian demand is expected to increase during coming months, as stocks decrease and importers rush to use the remaining quota allocations (around 50-55 per cent of the total) before November.
Brazilian beef exports to the Middle East or July decreased 28 per cent on the previous month, to 25,647 tonnes swt, as the high currency, increased prices and unstable political situation impacted shipments.
TheCattleSite News Desk
