Loading…
Minerva's CEO told Reuters that high corn and soymeal costs are pushing Brazilian ranchers to send cattle to slaughter rather than feedlots in the second half of 2022. He expects this to add downward pressure on beef prices, alongside weaker domestic demand.
Cepea data showed wholesale carcass prices fell 6.3% in May.
Fewer cattle in feedlots means lower demand for corn and soymeal in Brazil, while feed costs remain high. Cattle prices are expected to fall as producers sell early.
thebeefsite.comJun 8, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
