Mercosur steer recovers the US$ 4 mark

The average price of slaughter steers in Mercosur countries rose for the third consecutive week and once again surpassed US$ 4 per kilo carcass weight—something that has only occurred for three weeks so far this year. The WBR Mercosur Steer Index increased by 4 cents during the week to US$ 4.02 per kilo carcass weight.

The firmness of regional prices in local currencies, combined with a weaker U.S. dollar (despite a recent uptick due to the possibility of a ceasefire in the Middle East), helped drive slaughter cattle prices upward.

In Brazil, the average price of the finished male rose by 3 cents during the week to US$ 3.67 per kilo carcass weight, tax-free (Funrural) and with 30-day payment terms, according to consultancy Scot references.

In Argentina, the key factor behind the increase in the dollar reference for export steers was a 1.7% appreciation of the Argentine peso. The price rose by 9 cents on the week to US$ 4.76 per kilo carcass weight, including the 6.75% export tax on steer beef.

Prices remained stable in Uruguay and Paraguay over the past week, but with contrasting trends: in Uruguay, the market is firm and holds the region’s highest price at US$ 5.00, while Paraguay has the lowest, at US$ 3.50.