The globalisation of a Brazilian cattle corporation: from developmentalism to financialisation

Cattle is not only an economic sector in Brazil but is also a political arena that benefited from historical state policies and international demand in distinct moments. In the 21st century, the country became a global market leader due to the exponential growth of one corporation that escalated to be the world’s largest meat company, with persistent state’s support. The cattle-state relationship, however, went through several transformations in the past century and cannot be simplified in a superficial analysis of a more recent industrial policy and paternalism based in corruption. This article presents an analysis of cattle capitalism in Brazil to respond to the question: how do one family, the state, and elite capitalists articulate among themselves, and in different moments, to pursue accumulation? The goal is to identify different phases of cattle capitalism in Brazil, ever since the 1950s developmentalism. The conclusions point to the financialisation of cattle as a new stage of Brazilian capitalism. The research method is built on an anthropological inquiry combining the documentary analysis of primary and secondary sources, and interviews with business executives, politicians, market analysts, public servants and other relevant key-informants.