The average value of Brazilian beef exports has been showing a moderate downward trend since reaching its peak in May. Over the three-week moving average through July 11, it stood at US$ 6,466 per FOB ton, more than US$ 100/t (-1.7%) below the average recorded during the last three weeks of May.
According to Brazil's Foreign Trade Secretariat (Secex), exports totaled 104,665 tons through July 11 at an average FOB value of US$ 6,383/t. During the second week of the month, shipments reached 59,496 tons, averaging 11,899 tons per day, well below the more than 15,000 tons per day recorded during the first three business days of July.
Shipments are expected to moderate once exporters complete deliveries of volumes that can still reach China under this year's import quota.
