Rabobank anticipates records in beef export earnings and shipments

Rabobank, based in the Netherlands, anticipates that beef exports from Brazil should acquire a good pace in the second half of 2022, mainly due to heated sales to China, the United States, Egypt, and the United Arab Emirates. The bak also projects a 10% growth in shipments compared to 2021.

See below the track record of Brazilian beef shipments, measured in tonnes, from January 2020 to May 2022. The data below is from the DataLiner platform.

Brazilian beef shipments | Jan 2020 – May 2022 | WTMT

Source: DataLiner (click here to request a demo)

The Chinese market should remain the largest destination for Brazilian beef, increasing its share to 49% of the total shipped, with 437,000 tonnes purchased by May/22. The increase is 38% compared to the previous year’s period, as Rabobank pointed out.

The United States comes in second, representing a total of 8% of the total exported and totaling 71 thousand tonnes in the same period, up 110% year-on-year. As a result, in terms of volume, exports totaled 887 thousand tonnes and USD 5 billion in revenue, an increase of 25% and 56%, respectively, in the annual comparison.

Also, the dichotomy between internal and external demand has increased the significance of exports in pricing live cattle. Added to the off-season production and the greater interest of slaughterhouses in exporting new batches of cattle, the prices that had been falling since April are starting to increase again.

Despite future prices recovering in the year’s second half and approaching R$ 338.00 per arroba, the pressure on the confinement margins discouraged ranchers from investing in the first round, thus sustaining prices high in the third quarter, especially if there are no more severe embargoes on exports.

Source: Notícias Agrícolas

To read the full original article, please go to: https://www.noticiasagricolas.com.br/noticias/boi/321129-rabobank-aponta-que-as-exportacoes-de-carne-bovina-podem-ter-um-novo-recorde-no-volume-e-no-faturamento-do-setor-no-segundo-semestre-de-2022.html#.Yr8Lx3bMLIU

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