EN 
PT_BR 
The Brazilian pig farming market continues to show impressive results, benefiting producers and processors. According to Itaú BBA's Agro Consulting, the price of live pigs, weighted by slaughter in the Southern Region and Minas Gerais, increased by 5% compared to the previous period, while costs increased by only 1%, strengthening the fattening spread, which is at a historically high level.
Despite the initial increase in value, animal prices have stabilized in recent days, trading near R$ 8.75/kg in São Paulo and R$ 8.25/kg in Minas Gerais, values still considered satisfactory by the sector.
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Exports hit a historic record, with 134,000 tons of fresh pork shipped, an increase of 251 TP4T compared to the previous year and 14.31 TP4T in the accumulated period from January to October 2025. The Philippines, Japan, Mexico, and Vietnam led the external purchases, with the Philippines standing out as the largest customer of the year, increasing imports by 681 TP4T, accounting for 241 TP4T of the total exported, followed by China (121 TP4T), Chile (91 TP4T), and Japan (81 TP4T).
The average export price remained stable at US$ 2,580 tons and, even with a slight increase in costs, the external spread decreased by 2 percentage points, to 43%, compared to 45% in the same period of 2024.
Preliminary data on SIF slaughter figures for the third quarter of 2025 indicate growth exceeding the consolidated figure from IBGE for the first half of the year, which was 2.5%. Furthermore, the average carcass weight is higher, resulting in pork production exceeding the variation in the number of slaughtered animals.
With the solid growth in exports and the domestic market absorbing the increased supply well, which led to an increase of approximately 6% in apparent consumption compared to the same period in 2024, the sector maintains a positive trajectory, even with firm prices.
