The cattle market remains stable, although market participants are beginning to see a larger supply of finished cattle that could put downward pressure on prices in the coming weeks.
Current references stand at US$ 5.00/kg for standard steers and US$ 4.80/kg for cows, with premiums of 3% to 5% depending on quality and the type of transaction, an intermediary told World Beef Report (WBR).
Slaughter bookings have lengthened and are now extending to around July 20, partly because of the cold weather. Temperatures have dropped sharply, with readings close to 0°C in several parts of the country, increasing producers' willingness to sell. "A little more cattle is coming onto the market, and if that continues, prices could move lower. Brazil remains the benchmark here, and Brazil has fallen quite a bit," the source said.
