from the fall of Gross Domestic Product (GDP) From U.Sthe reading that directly interests Brazilian meatpackers installed with multinational units, Marfrig (MRFG3) and JBS (JBSS3), also the main exporters of beef there, along with the Minerva (BEEF3), is that personal spending and imports were the groups that grew.
The 1st quarter of the United States closed at minus 1.4% in annualized terms, compared to the last quarter of 2021, contradicting expectations of a 1.1% increase, but the Bureau of Economic Analysis (BEA) highlighted that personal consumption expenditures expanded, alongside the so-called fixed – and non-fixed – residential investments.
In the BEA method, food falls under this heading.
The quarterly data on the results of the three companies once again showed the importance of the United States, despite a bias being observed of shortening the herd and high origination by local slaughterhouses, as well as the increase in shipments from Brazil.
And noting, again, that Minerva only works with exports from Brazil and its subsidiaries in South America.
The US bought more than 395% of Brazilian beef in the 1st quarter, almost 70 thousand tons, solidifying itself as the second largest importer of the protein.
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Source: Moneytimes
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