Brazil
According to market participants, Brazil’s cattle prices remained elevated as of Thursday, November 21, with no significant drop expected despite ranchers planning to bring more animals to market in 2025.
Prices have surged over 50% since May, driven by drought-damaged pastures and tight supplies of slaughter-ready cattle, according to Frigorifico Concepcion. This strained meat producers such as JBS and pushed consumers toward more affordable proteins such as chicken.
Ongoing herd reductions in Brazil set the stage for tighter cattle supplies in 2025, according to the USDA. Declining beef production in major markets such as the US, China and the EU continue to sustain high global prices, with the US increasing imports to counteract a seven-decade low in cattle herds.
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11.21.2024
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