Export cattle prices strengthened after the announced cut in export taxes

Despite the cut in export duties announced by President Javier Milei on Saturday the 26th at the Rural Exhibition, as of yesterday the measure had not yet been published in the Official Gazette and therefore had not come into effect. However, it appears to have driven an increase in export cattle prices, which showed considerable gains at some auctions. The best export steers reached Ar$ 5,650 per kilo dressed weight, and in some cases even Ar$ 5,800, although it is unclear whether that level will be sustained. Meanwhile, steers with indicus cross reached Ar$ 5,550 per kilo dressed weight.