Brazil and Paraguay drive new downward correction in Mercosur steer

The WBR Mercosur Steer Index lost 5 cents last week, closing at US$ 3.85 per kg carcass—the lowest level since April 8 (US$ 3.84).

Although less sharply than the previous week, Brazil’s boi gordo price in the average of exporting states weakened by 1.2% in USD terms, ending at US$ 3.39 per kg carcass (–3 cents). The @ for finished males fell 3.5% last week, partially offset by a slight appreciation of the real against the dollar.

Paraguay also contributed to the downward push, with slaughter cattle prices dropping 30 cents to US$ 3.80 per kg.

On the other hand, prices continued rising in Uruguay, where top steers fetched US$ 4.80 per kg as a baseline. In Argentina, the special export steer remained steady last week at US$ 4.74 per kg carcass.