Argentina weighs on the Mercosur steer

The sharp 7 % appreciation of the Argentine peso recorded the previous week was entirely wiped out this week, dragging down the export-steer reference expressed in US dollars.

Exchange-rate weakness in Argentina was the main bearish factor for the Mercosur average steer price. The WBR Mercosur Steer Index fell 7 cents to US$ 3.99 per kilo carcass weight.

Along with the peso’s slide, export-steer values in Argentina dropped about Ar$ 100 per kilo carcass weight, pulling the reference down 42 cents to US$ 4.56/kg cw, including the 6.75% export duty on steer beef.

In Brazil, gains in the finished male price in reais stalled, but a 1.8 % appreciation of the Brazilian currency still lifted the average export price by 3 cents to US$ 3.68/kg cw in the main exporting states.

Paraguay’s slaughter-cattle market remains on an upward path: males are selling around US$ 4.07/kg cw, 7 cents higher than the previous week.

Uruguay’s market stays stable yet firm, with a reference of US$ 4.60/kg cw.