Brazil-Lower beef prices forecast.

BRAZIL.

LOWER BEEF PRICES FORECAST.

The Ministry of Agriculture in Brazil, are forecasting a severe drop in the prices of beef in the coming months.

Trade has stagnated in Russia, while the prices in the European Union are not workable, unless the cost of livestock comes down, according to the head of JBS.

The fall in world commodity prices, will lower the cost of feed to the massive Brazilian pork and poultry industries, this will also apply to cattle in feed lots.

There should be an increase in demand on the domestic market, caused by lower prices.

Brazil are currently trying to re-open the market with Chile, 50 tons of frozen steer beef was shipped to Indonesia last week, which is pioneering this massive Australian market.

JBS-Swift are currently sending beef to Chile from their Australian plants, yet cannot supply them from next door.