Chicken prices held firm in Brazil last week as consumers in the country were attracted by poultry’s improved competitiveness against competing proteins such as pork.
Wholesale prices rose slightly in Parana but were unchanged in the state of Sao Paulo. Live chicken prices were also stable, but average export prices were up on the previous month.
Domestic production has risen in response to consistent foreign demand but a strengthening of the Brazilian currency against the US dollar appears to be putting a dampener on export growth.
In the first week of July, daily shipments averaged 17,350 tonnes – down 7.8% on the previous month.
Having risen sharply May and June, pork prices in Brazil are easing back slightly. The previous price hikes proved too much for the domestic market, leading to increased inventories and a subsequent fall in prices, which was felt across the production chain.
At the same time, competing proteins were more affordable to the Brazilian population.
However, Brazilian pork exports are still performing well. In the first week of July, shipments increased by 3.5% over last month and by 16.9% over July last year to reach 15,150 tonnes.
Note: Pork and poultry charts previously found in the Brazilian Meat Monitor can now be found here.