The Impacts of Foot and Mouth Disease Outbreaks on the Brazilian Meat Market
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This paper elucidates the impacts of the September 2005 foot and mouth disease outbreak on the Brazilian meat market for different levels of the industry (export, wholesale, and farm). The associated import ban by Russia on Brazilian meat exports is also analyzed. Results suggest that the increase in domestic supply due to the import ban generated downward pressure on prices at all levels for pork and chicken. Meanwhile, export beef and wholesale beef prices underwent ambiguous and positive changes, respectively, while farm level prices only recovered after the removal of the import ban.