Brazil’s Mato Grosso Beef Exports Set Historic Record in 2024

Brazilian state Mato Grosso has solidified its position as a global leader in beef exports by reaching an unprecedented milestone in 2024. The state exported 759,33 thousand tons in carcass equivalent (TEC), surpassing the previous record of 589,19 thousand TEC set in 2023.

Despite a monthly decline of 18.01% in December, with 58.80 thousand TEC exported, this volume marked the highest ever recorded, highlighting the strength and resilience of the Mato Grosso market.

International Demand Drives Record

The historic performance was driven by the appetite from key markets such as China, the United Arab Emirates, and the United States, which accounted for 59.99% of total exports, with China alone absorbing 46.31% of the exports. China’s dominance helped secure competitive prices across the production chain, maintaining the state’s leadership.

Price Trends and the MT-SP Price Differential

Despite the record in exports, the price of fattened cattle declined in December. In Mato Grosso, the price was quoted at R$297.34 per arroba, a decrease of 3.73% from November. In São Paulo, the decline was even more pronounced, with the average price falling to R$325.90/@, reducing the MT-SP base price differential to -8.76%, the lowest level of the year.

However, the last weeks of 2024 showed signs of recovery. In Mato Grosso, the price for fattened cattle on credit increased by 5.26%, reaching R$ 311.59/@, driven by high demand for cattle.

Outlook for 2025

A higher supply of non-pregnant females and pasture cattle is expected at the beginning of 2025, which could put pressure on arroba prices. Still, international demand will likely remain a key pillar, with China strategically balancing the market.

The results of 2024 reaffirm the importance of Mato Grosso’s agribusiness to Brazil’s economy and solidify its position as a global leader in beef exports. With strategies focused on market diversification and production efficiency, the sector enters 2025, ready to face new challenges and seize emerging opportunities.

Source: Compre Rural

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