The feedlots are emptying in Argentina, but the offer does not loosen

A greater supply and a lower demand by consumption and exports are reflected in an equilibrium price for the farm that is 35% lower in real terms than six months ago. The cattle offer will not be reduced in the short term, at least while the dry season lasts; There may be a moderation in shipments in the next two months, because the feedlot, with record levels of losses per animal, now seems to have begun to empty. Little can be expected from consumption: “Light cattle prices will only improve, and partially, if the supply is restricted. The consumer is cornered ”, they assure in the sector. Exports, which seem to have stabilized at relatively high volumes (76,000 tons in November), have lost all the improvement in FOB prices that they had until a few months ago and that allowed them to compensate for the brutal (deliberate) delay in the real exchange rate. China, when announcing 10 days ago the easing of the strict Covid-19 "0" policy, showed signs of improving its demand for ...