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Brazil’s August Beef Exports down Slightly Year-over-Year

Brazilian-Beef-Exports

Brazil’s August beef/beef variety meat exports totaled 128,607 metric tons (mt), down 1 percent from last year’s large volume. This was only the second time this year (also April) that Brazil’s export volume was lower year-over-year. August results were led by strong growth to Venezuela (19,371 mt, +163 percent) and Hong Kong (29,111 mt, +16 percent).

Exports to Russia had surged in July (40,937 mt), but softened in August to 33,737 mt. While this was 5 percent higher than a year ago, the volume was less than expected due to the limited number of beef suppliers eligible for Russia.

Even with the slight decline in August, Brazil’s exports through the first eight months of the year were still up 10 percent to 987,742 mt. Exports to Russia increased 5 percent to 217,935 mt, while stronger growth was reported for Hong Kong (225,501 mt, +11 percent), Venezuela (118,855 mt, +49 percent), Iran (54,822 mt, +111 percent) and Angola (18,207 mt, 46 percent). Brazil’s cattle prices have trended higher this year, with prices in the first week of September up 23 percent from a year ago to $1.71 per pound (Sao Paulo carcass average).

Export data source: Global Trade Atlas