Brazil Meat Market: CEPEA Data Shows Beef Prices Remain Firm in March

Data from the CEPEA research center at the University of São Paulo indicates that wholesale beef prices in the Greater São Paulo region continued to hold firm throughout March, despite fluctuations in other meat products. This trend is primarily driven by consistently high Brazilian beef export volumes and a relative reduction in domestic market availability. Remarkably, this price firmness persisted even during the Lent period. Traditionally, beef consumption tends to decrease during Lent due to religious customs, and the market competitiveness of substitute proteins (such as pork and chicken) usually increases. However, this year's beef price trajectory defied this pattern, demonstrating strong market resilience. In contrast to the beef market, competing proteins like pork and chicken experienced price declines in March. CEPEA's analysis suggests that for pork, production growth outstripping consumption demand has been the main factor pressuring prices, squeezing producers' profit margins, especially amidst high input costs. The chicken market has also followed a similar downward trajectory.