April 21, 2004

Brazil Beef Exports Significantly Up In First Quarter

Brazil recorded a monthly record volume of beef in March at 89,477 tons, up 10.25% on the previous 81,130 tons record of October 2003, according to Agriculture Ministry figures out Tuesday.
 
The figure is all the more remarkable because it was obtained in a month in which a strike by federal agricultural inspectors interfered with shipments. The boost came from foreign demand.
 
The average price of a ton of beef in March was $2,206.80, the highest since December 2000.
 
In terms of Brazil's March beef export revenue there was an 82.57% increase compared with March 2003 to $197.39 million. In terms of volume, shipments rose 40.6% compared with the same month last year.
 
In the first quarter the volume of beef exported rose 17.23% compared with the same period in 2003 to 227,795 tons, while revenue increased 50.87% to $483.72 million.
 
Of this total 179,900 tons and $382 million was in chilled/frozen beef. The remaining 47,700 tons and $101.7 million was from corned beef.
 
Some market analysts say that these export figures explain why slaughter steer prices have held in Brazil despite drought and the fact that it is the harvest season.