How far are we from the historic peak of cattle prices in 2022?

How far are we from the historical peak in cattle and beef prices of 2022? In the case of cattle in Argentina, it should be noted that the young steer in Cañuelas is worth today –in real terms– 25% more than the average of the years 2005-2024, but still 12% below the peak of March 2022. The price of the weaned calf, for its part, is today 34% higher, in constant currency, than the average of the same period, but it is 10% lower than the maximum obtained in March 2022. The FOB price of Argentine beef exports, which is currently about US$4,500 per ton, is still below the US$4,680 per ton reached in April 2022. The weighted average FOB price of the four Mercosur countries, plus the United States and Australia is currently about US$6,500 per ton of beef product, 12% below the peak values of June 2022. The average FOB price of the ton of beef exported by Brazil is in October 19% above a year ago, and only 10% below the peak of 2022. According to the specialized publication World Beef ...