Mercosur steer prices move lower

A larger supply of slaughter cattle in Brazil, combined with weaker exchange rates in both Brazil and Argentina, pressured the average steer price across Mercosur countries. The WBR Mercosur Steer Index fell by 7 cents on the week to US$ 3.92 per kg carcass weight, bringing the two week slide to 14 cents.

In Brazil the boi gordo dropped 13 cents, reflecting a 1.7 % depreciation of the real and lower local currency quotes. The average boi gordo price is now US$ 3.55 per kg, net of the Funrural tax.

In Argentina export steer values were steady in local currency but slipped 3 cents in dollar terms to US$ 4.53 per kg carcass weight, including the 6.75 % export tax on steer beef.

Markets in Uruguay and Paraguay remain firm and edging higher. In Uruguay top grade export steers are paid about US$ 4.65 per kg, while in Paraguay grassfed males fetch roughly US$ 4.10 per kg.