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MINERVA S.A.

(BEEF3)
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Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-08-05 pm EDT
13.05 BRL   +3.16%
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Brazil increases feedlots use to meet China importing requirements

04/05/2022 | 01:03pm EDT
FILE PHOTO: A butcher unloads beef from a truck outside a butcher's shop in Sao Paulo

SAO PAULO (Reuters) - Driven by Chinese demand, the growth in use of feedlots in Brazilian beef production rose to about a fourth of the country's overall slaughtered cattle, industry sources said.

Cattle fattened to produce meat for the Chinese market, which buys about 50% of Brazil's exported beef, is sold for 20 reais ($4.29) to 30 reais ($6.43) more per arroba (15 kilograms) than conventional cattle.

This has contributed to the use of confinement facilities like feedlots being used in Brazil, the world's biggest beef supplier, as opposed to grass-fed cows living on large estates, the sources say.

"Most confined cattle are directed to exporting slaughterhouses, and China only buys animals that are 30 months' old," said Hugo Cunha, manager at Dutch nutrition company DSM. "And we can only do that by finishing the cycle in confinement or on a semi-intensive system," he said.

In 2021, 27.54 million head of cattle were slaughtered in Brazil, according to government statistics bureau IBGE. The DSM Confinement Census shows that 6.5 million animals were finished in confinement last year, corresponding to 23.7% of cows slaughtered coming from feedlots here.

Five years ago, 29.7 million cattle were slaughtered in Brazil, according to IBGE data. This compares with 3.75 million animals raised in confinement, or 12.6%, DSM data for 2016 show.

The adoption of confinement facilities gathered pace from 2019, when many Brazilian beef plants were approved for sale of products into China.

That year alone, 22 beef plants were approved. Currently, 37 Brazilian beef units can sell beef to China, according to industry and government data.

($1 = 4.6641 reais)

(Reporting by Nayara Figueiredo; Writing by Ana Mano; Editing by Aurora Ellis)

By Nayara Figueiredo


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
JBS S.A. -1.24% 31.08 Delayed Quote.-18.10%
MARFRIG GLOBAL FOODS S.A. 0.83% 13.42 Delayed Quote.-39.19%
MINERVA S.A. 3.16% 13.05 Delayed Quote.23.11%
All news about MINERVA S.A.
08/01NORTH AMERICAN MORNING BRIEFING : Stock Futures -2-
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06/21Wall Street Set for Upbeat Open Despite Recession Concerns
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06/21Top Premarket Decliners
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05/23Tranche Update on Minerva S.A.'s Equity Buyback Plan announced on October 5, 2020.
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05/17BRF suspends mask use at Brazil plant as COVID cases fall, rivals do not
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05/12TRANSCRIPT : Minerva S.A., Q1 2022 Earnings Call, May 12, 2022
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05/11Minerva S.A. Reports Earnings Results for the First Quarter Ended March 31, 2022
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05/11Earnings Flash (UTRS) MINERVA SURGICAL Reports Q1 Revenue $10.9M, vs. Street Est of $10..
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04/28MINERVA S.A. : Ex-dividend day for final dividend
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04/05Brazil increases feedlots use to meet China importing requirements
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Financials
Sales 2022 30 139 M 5 783 M 5 783 M
Net income 2022 810 M 155 M 155 M
Net Debt 2022 6 062 M 1 163 M 1 163 M
P/E ratio 2022 9,38x
Yield 2022 5,73%
Capitalization 7 624 M 1 463 M 1 463 M
EV / Sales 2022 0,45x
EV / Sales 2023 0,44x
Nbr of Employees -
Free-Float 43,3%
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Number of Analysts 12
Last Close Price 13,05 BRL
Average target price 16,02 BRL
Spread / Average Target 22,7%
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Managers and Directors
Fernando Galletti de Queiroz Chief Executive Officer
Edison Ticle de A. Melo e Souza Filho Chief Financial Officer
Ibar Vilela de Queiroz Chairman
Luis Ricardo Alves Luz Chief Operating Officer
José Luiz Rêgo Glaser Independent Director
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