After three months of falling Brazilian cattle prices, average steer values partially recovered in September, reaching 316US¢/kg cwt (A307¢/kg) up 6.4 per cent compared with the previous month (ESALQ-USP).
Contributing to the recent rise in cattle prices has been a reported decline in cattle turnoff, along with an improvement in domestic beef demand, with both chicken and pork prices rising.
The significant increase in global fed grain prices in recent months, including in Brazil, has helped to spur higher the retail price of chicken and pork meat, rising by four per cent and nine per cent, respectively, in August. In contrast, the retail price of beef only increased by 0.7 per cent, helping both price competitiveness and demand for beef in the local market.
Source: Argentine Beef Packers S.A.
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