The average slaughter cattle price across the Mercosur countries ended a three-week downward trend, supported by the appreciation of the Brazilian real, which lifted Brazilian cattle prices in US dollar terms.
The WBR Mercosur Steer Index gained 3 cents over the week to US$4.70/kg carcass weight. The 1.4% appreciation of the Brazilian real against the US dollar was the main driver behind the increase, along with higher prices in Uruguay.
In Brazil, the average boi gordo price, based on Scot Consultoria quotations, declined 0.8% during the week. However, the stronger exchange rate lifted the US dollar value by 2 cents to US$4.14/kg carcass weight.
Argentina was broadly steady. A slight appreciation of the Argentine peso pushed the export steer price up by 1 cent to US$5.65/kg, including the 5% export tax on steer beef.
Uruguay became the highest-priced market in the region for the first time since early November. For the third time this year, the quotation for special grassfed steers reached the record level of US$5.70/kg carcass weight.
In Paraguay, the market has softened somewhat, and the US$5.00/kg benchmark for standard male cattle is no longer widespread.
