Brazilian agribusiness sees rising cattle prices and falling soybean costs

The Brazilian agribusiness sector is seeing divergent trends in key commodities. Cattle prices are on an upward trajectory, with the Cepea/Esalq indicator showing continuous appreciation throughout September 2026. B3 futures contracts suggest the price per arroba could reach R$ 400 by the end of 2026 or early 2027, driven by a restricted supply of animals ready for slaughter and increased domestic consumption during the year-end holiday season.

In contrast, soybean prices have declined in both Brazilian and international markets following a period of strong gains in September. The international drop is attributed to the progress of the 2026/27 harvest in the Northern Hemisphere, which has increased global availability. In Brazil, while international price drops reduced liquidity in the spot market, export premiums have helped mitigate the impact on domestic prices.