The political uncertainty stemming from the imprisonment of Turkey’s main opposition leader in March led to a sharp drop in the Turkish lira, which remains weak against the US dollar. However, the monthly devaluation has moderated to just over 4%, and this has been more than offset by a steady increase in finished cattle prices.
The price for steers with carcass weights of 250–300 kg rose by 15% in Turkish lira over the past month and by 10% in US dollars, reaching a reference value of US$ 12.4 per kilo carcass weight for payments made in 35 days.
This situation — marked by an exceptional shortage of beef in the Turkish market and high cattle prices in Europe (the other supplier) — is driving strong demand for animals from South America, particularly Brazil and Uruguay.
As a result, expectations point to a steady pace of live calf exports to Turkey throughout the year. In Uruguay, exporters are currently paying US$ 2.85–2.90 per kilo for entire male calves.
