Average export value hit a record

This is only a weekly figure, and the National Meat Institute (INAC) usually revises it downward the following week, but the average export value per kilo carcass during the seven days to July 19 was US$ 5,969, a record for the country. It clearly surpassed the previous high of US$ 5,698 per kilo carcass, which had been reached in 2022.

Export volume that week was relatively low, 4,456 tons carcass weight, so the average was likely boosted by a high proportion of premium-priced beef, possibly chilled beef shipped to the European Union.

From January through July 19, Uruguay exported 290,000 tons carcass weight of beef at an average value of US$ 4,849 per ton. Volume rose 6% year-on-year (in line with higher slaughter), while the average price jumped a robust 18.8%.

The annual export value record was set in 2022, at US$ 4,912 per ton. This year, unless something very unusual happens—which can’t be ruled out given the uncertainty generated by the White House’s aggressive trade policy—Uruguay is on track to surpass that record, as the global market trend is firm and moderately bullish.

Next week will be crucial with the arrival of August 1. At that point, it will become clear how many of Trump’s threats materialize and how global beef market dynamics are affected.