Special steers reach US$ 5

The price of special export steers reached US$ 5 last week—a level not seen since August 2022, nearly three years ago. Market firmness persists, driven by strong demand for a scarce raw material.

Heavy carcass steers are being paid between a floor of US$ 4.90 and a ceiling of US$ 5.00, although as usual, some spot deals are done a few cents above that range. Finished cows are trading between US$ 4.60 and US$ 4.80, while heifers are selling around US$ 4.85. Some companies are attempting to push down purchase prices, so far without success.

Heavy rainfall over the weekend disrupted some cattle shipments and led to opportunistic deals for lots with easy access.

Booking times are generally around 7 days, although some plants with very low inventory are buying for shipments within 2–4 days.

Nothing currently suggests a shift in the market tone in the coming days, although some are starting to speculate that an increase in supply from grainfed animals could begin in July, potentially reducing demand for grassfed cattle.