Expectations threaten to underpin export cattle values

The European Commission’s approval of the EU–Mercosur agreement added a new layer of excitement to producers’ expectations, which had already been buoyed by the disclosure of the annual quota granted by China to Argentina and by the (still unconfirmed) reports that the beef quota for the United States could be increased fivefold, to 100,000 tons. In this context, some sales of steers were reported at prices as high as Ar$ 8,200. However, most sources were still indicating prices similar to the ones of last week.