Daniel Urciathe President of FIFRA highlighted in a statement the Delay in the prices of meat cuts with respect to inflation, while the prices of live animals are also beginning to lag behind. That is why he anticipates a “price recomposition at the end of the year, only due to the inertia of the economy itself.”
The decline in the cost of beef contributed to a decline in the inflationsince meat represents a significant part of the consumption basket used to calculate price indices.
Falling meat consumption
He price of beef The average price of corn was $7,445 per kilo for consumers in July of this year, the latest official data. This value represents a decrease of $1.89 per kilo. 16% in real terms compared to the price recorded at the end of 2023. According to a study by IERAL of the Fundación Mediterránea, the reduction in prices had an impact in mitigating inflation so far this year.
The report prepared by Franco Artusso estimated that the share of beef in inflation went from contributing 2.2 percentage points in December 2023 to just 0.11 points in July 2024, thanks to falling prices.
He apparent consumption of beefcalculated as production minus exports, fell 20% year-on-year during the first half of the year.
This decline in consumption is mainly due to the decline in consumer purchasing power and the decline in economic activity, which has led to an adjustment in food spending. In this context, the fall in Beef consumption reached historic lows and reflects the harsh economic reality facing Argentine households, they noted.
In order to adjust their expenses, many families began to resort to cheaper alternatives such as chicken and porkas beef remains expensive in relative terms.
Activity of the refrigeration sector
Regarding the monitoring of the activity, the month of August with 22 working days of activity in comparison with July with the same number of days, nshows a decrease, returning to May levels. Daily cattle slaughter was 54,145 animals versus 57,238 in July and 53,450 in May.
In terms of pig slaughter, an average of 31,833 capons were registered in August, 36,088 in July and 33,823 in May. Perhaps the explanation we can try is that in July there were 5 Mondays and Tuesdays, unlike in May and August, with greater activity being registered on those days.
Source: Ambito
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