According to figures released by IBGE, the Brazilian Institute of Geography and Statistics, this represents a 5.2% drop compared with the previous quarter.

The reduction in cattle for slaughter was observed in 21 out of 27 Brazilian states, with Goias, Minas Gerais and Mato Grosso do Sul representing the biggest decline.

On the other hand, the figures for chicken and pig were 7.1% and 9.6% higher compared to Q1 in 2015.

As reported by ILM, domestic sales of Brazilian red meat remain at low level and are not being compensated by exports. In March 2016, Brazilian beef exports totalled US$ 518 million, up 7.8% from the same month the previous year, marked by increased demand from Egypt, China and Saudi Arabia. Read more here.

In terms of bovine hides, a total of 8.39 million were registered in the first-quarter of 2016, up 2% year-on-year but 0.4% lower than the previous quarter.