05-02-2014 00:53 AM | Brazil

Brazilian cattle price surges to record as heat chars pastures

Brazilian cattle is trading at the highest level ever as heat scorches dry grazing fields in the top beef-exporting country, threatening livestock supplies for meatpackers such as JBS SA and Minerva SA.

Benchmark cattle prices in Sao Paulo rose to a record 115.07 reais ($48) an arroba (32 pounds) yesterday, up 17 percent from a year ago, according to data on the website of the University of Sao Paulo’s Cepea agricultural research agency.
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