Platts launches lean beef price assessments for Brazil exports, US imports

Platts, a division of S&P Global Commodity Insights, has launched daily price assessments for Brazilian beef exports, and US beef imports, effective March 18.

Platts lean beef assessments in Brazil and the United States reflect, respectively, the largest export market and one of the top import markets for the product globally. Together, they bring increased transparency to the global beef market and alongside Platts existing coverage in the soybeans, soybean meal, corn and DDGS markets, increased transparency to the full agricultural value chain.

The Brazil assessment – Brazil Beef Marker (BBM) – reflects the value of the front forequarter, eight cut, basis min. 90% visual lean, deboned, boxed and frozen on an FCA basis from the Port of Santos in Brazil, Terminal Handling Charge (THC) included. The daily assessment reflects the value of product stuffed in one 40-foot refrigerated container, of 25-27 mt net weight. The assessment considers product which has complied with standard phytosanitary rules, from cattle no older than 30 months with a maximum of four permanent incisors.

Platts assesses prices for the third half-month laycan from date of publication. For example, on March 18, the half-month laycan assessed is H2 April. Payment terms are cash against documents, with 30% against invoice and the balance against bill of lading.

Platts BBM is published in US dollars/mt as an outright price under the symbol ATALC00. A monthly average will be published against the symbol ATALC03.

The US assessment – 90CL Beef CIF US – reflects the value of manufacturing beef, basis min 90% chemical lean (90CL) deboned, boxed and frozen, on a CIF Philadelphia, US basis, THC excluded. The daily assessment reflects the value of product stuffed in one 40-foot refrigerated container, of 27 mt net weight. The assessment excludes costs of US Customs and Bureau Protection entry form and US Department of Agriculture inspection.

Platts assesses prices reflecting product to be shipped 30-60 days from date of publication. Payment terms are cash against documents.

Platts 90 CL Beef CIF US is published in US dollars/mt as an outright price under the symbol ATALB00. A monthly average will be published against the symbol ATALB03.

The assessments are based on bids, offers, trades and market activity reported to Platts before 17:30 Sao Paolo time for Platts BBM, and 13.30 CT for Platts 90CL Beef CIF US, and reflect prevailing market value at the time of close.

A summary of the new assessments is as follows:

Platts BBM and Platts 90CL Beef CIF US are published on Commodity Insights LIVE, where they are free to view. Register at www.ciLIVE.com.

Please send any comments or feedback to MRTS_agricultureandfood@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.