Solid increase in steer prices across Mercosur

Slaughter cattle prices saw a significant increase this week, supported by rising price references in Brazil, Argentina, and Uruguay, as well as by the weakness of the U.S. dollar. The WBR Mercosur Steer Index rose 9 cents for the week to US$ 3.98 per kilo carcass weight, the highest level in five weeks.

In Brazil, the rise in real-denominated prices was complemented by a 0.9% appreciation of the exchange rate. The average price of the finished male, excluding the Funrural tax and with 30-day payment terms (based on Scot Consultoria references), rose 9 cents on the week to US$ 3.64/kg.

A similar trend occurred in Argentina, where export steer prices increased in local currency and were further boosted by the exchange rate. The export steer, including the 6.75% export tax on steer beef, rose 13 cents to US$ 4.67/kg.

In Uruguay, the special export steer rose 5 cents to US$ 5.00/kg carcass weight, a level not reached since August 2022.

In Paraguay, the price remained unchanged at US$ 3.50/kg carcass weight.