In São Paulo, after a few days of stability, prices began to drop. At the close of last Friday (29/11), the price of live cattle fell by 4.4% and is quoted at R$220.00/@ cash, gross. Discounting the Senar rate the price is R$219.50/@. Free from Funrural and free from Senar the price is R$216.50/@.
There was a drop in 12 of the 32 regions surveyed, considering the spot price. The state of Goiás recorded the second biggest drop after São Paulo, where the price fell by 2.8% in a day-to-day comparison.
Despite the downward bias, the market should remain firm, supported by the scenario of restricted cattle supply and heated Chinese demand.
Source: Scot Consulting
