Brazil's cattle price keeps breaking records: R$394. Futures already pay over R$400
The Cepea indicator is up 1.1% in November. Finished cattle are scarce and packers want to buy; live-cattle exports tighten supply further.
To save you time3
- What is the price?
- R$394.30 per arroba (15 kg) on the Cepea/Esalq indicator on Nov 12, up 1.13% in November.
- Is it a record?
- Yes. The indicator hit a series high on Oct 30 at R$389.90 and kept rising.
- Why is it rising?
- Short supply of finished animals, strong packer demand and foreign demand for live cattle.
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Brazil's cattle price reached R$394.30 per arroba on the Cepea/Esalq indicator on Nov 12, another record.
The numbers
- November: +1.13% so far.
- Previous record: R$389.90 on Oct 30, the series high, already surpassed.
- Futures: the November contract opened the month at R$409.80; maturities into early 2027 trade above R$400.
Why it is rising
- Few finished cattle ready for slaughter.
- Packers buying firmly.
- Strong live-cattle exports pulling animals out of the domestic market.
What I would watch
Ranchers have their best margins in years; packers face pricier raw material. Those with strong exports (and a favorable currency) pass it on better. That is the backdrop for the next BEEF3 and MBRF3 results.
