Brazil: Livestock and Products Semi-annual
Link to report:
Post forecasts beef production in 2020 at 10.5 million metric tons, which is an increase of 3.4 percent. This increase is driven by higher productivity, continued record exports, and stronger domestic demand. Post forecasts pork production to increase by 4.5 percent and reach a record of nearly 4.2 million metric tons, reflecting continued strong exports to China, higher domestic demand, and stable but somewhat higher feed costs this year. The expected growth of the Brazilian economy in 2020 by over 2 percent, with declining inflation and unemployment rates and higher consumer purchasing power, supports Post’s current estimates for the animal protein sector in Brazil. Although the level of uncertainty has risen significantly since last month regarding the impact of the “Coronavirus” (COVID19) in China, Brazilian packers remain optimistic about exports of beef and pork in 2020.
