Marfrig Rises Most in Three Months on Meat Export Price Gain
Marfrig Alimentos SA, Latin America’s second-largest beef producer, rose the most in three months after Brazilian meatpackers increased export prices.
Marfrig advanced 54 centavos, or 4.1 percent, to 13.79 reais at 12:46 p.m. New York time, the biggest gain on Brazil’s Bovespa index. Earlier, it climbed as much as 4.2 percent, the biggest increase since Aug. 31.
Poultry export volumes from Brazil jumped 39 percent and prices rose 15 percent in November from a year earlier, the Trade Ministry said yesterday. Pork exports rose 0.8 percent and prices increased 27 percent in the same period, according to a report posted on the ministry’s website.
“Export volumes and prices came in stronger than expected, signaling good prospects for this quarter,” SLW Corretora analyst Caue Pinheiro said in a telephone interview from Sao Paulo.
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