Beef market in Brazil 2023: population growth and price changes

Beef production and exports According to IBGE, 24.64 million HEAD of cattle

were slaughtered in Brazil from January to September 2023 , an 11.4% increase over the same period in 2022. This is the highest figure since 2014 and indicates an increase in the number of cattle in the country. Beef exports from Brazil also increased in 2023. According to Brazil's Ministry of Agriculture, 1.83 million tons of beef were exported between January and September 2023, up 7.7% from the same period in 2022. The main importing countries for Brazilian beef were CHINA , the United States and the European Union. Beef Prices Beef prices in Brazil have been volatile in 2023 . At the beginning of the year, prices were high due to low supply and high demand. However, prices declined in the second half of the year due to increased supplies and falling demand. Specifically, in February, the CEPEA/B3 index, which measures the average cost of feeding cattle in Brazil, reached a record high of BRL 300 per arroba (15 kg). However, at the end of August the rate was trading below 200 Brazilian reais per arroba. At the end of 2023, the index returned to the level of 250 Brazilian reals. Brazil Beef Market Outlook The Brazilian beef market is expected to remain volatile in the short term. Beef prices are likely to fluctuate depending on supply and demand, as well as changes in the global economy. In the long term, the beef market in Brazil is expected to grow. This is due to increased demand for beef from developing countries, as well as increased beef production in Brazil.