Brazilian beef exports take a hit

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Brazilian beef exports dropped 35% in January compared to the same month last year because of the global economic meltdown, according to news reports.

The Brazilian Beef Exporters Association says the country shipped 81.8 million metric tons (90.2 million U.S. tons) abroad during the month. That's down from 124.7 million metric tons (137.5 U.S. tons) for January 2008.

Association executive director Otavio Cancado said that the drop is due to frozen credit for international beef buyers, and he does not believe that global consumer demand has dropped.

Brazil's beef export sector took in $255.7 million for its shipments in January, a 45% decline from the same month last year.

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