Brazilian beef exports: forecasts for 2024

The impact of international sales on the development of the cattle feed industry in Brazil and on supporting domestic prices is increasing. The Brazilian industry successfully meets the needs of customers in different parts of the world.

On the domestic market, inflation tends to be more controlled and GDP may rise slightly. These conditions could increase demand for beef —Cepea estimates that beef consumption in bulk will grow by 1.79% in 2024 . Although a slight increase, this is a positive aspect, especially due to the decrease in consumption in previous years.

Analyzing supply, it can be noted that annual seasonality shows that supply volumes have been increasing since March, which leads to a decrease in quotations. In addition, low MILK prices and high livestock feeding costs may lead producers to slaughter less productive cows, which will also increase supply in some regions in the coming months .

Thus, in 2024, Brazilian beef exports will continue to grow, and domestic demand may recover. This state of affairs may affect prices for finishing cattle, as well as for finished beef.