Mercosur steer prices drop due to lower prices for Argentine beef

Published Aug 10, 2024

Tridge summary

The average price of slaughtered cattle in Mercosur countries, including Argentina, Brazil, Uruguay, and Paraguay, has decreased by 1 cent to US$ 3.04 per kilo of carcass due to a tax reduction in Argentina. The export steer price in Argentina continued to rise, but the devaluation of the exchange rate and a 2.25% reduction in the tax on steer meat export led to a 5 cent drop to US$ 4.07 per kilo of carcass. In Brazil, the slight increase in the average price of fatted boi in reals was balanced by a 0.2% drop in the exchange rate. The average price of fat boi in the main exporting states remained stable at US$ 2.51 per kilo carcass. The references in Uruguay and Paraguay also remained stable at US$ 3.95 and US$ 3.10 per kilo carcass, respectively.

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Original content

Faxcarne | The average value of slaughtered cattle in Mercosur countries fell 1 cent in the week to US$ 3.04 per kilo of carcass, with the tax reduction in Argentina as the main bearish factor. The price of export steer in Argentina maintained its upward trend that has predominated since the beginning of July in Argentine pesos. However, partly due to a devaluation of the exchange rate at which exporters settle of 1.7% in the week, to which is added the reduction of 2.25% of the tax on the export of steer meat (that of cow was reduced to 0%) to 6.75%, the reference for export steer lost 5 cents to US$ 4.07 per kilo of carcass. In Brazil, the slight appreciation of the average price of fatted boi in reals was compensated by the 0.2% drop in the exchange rate. The average price of fat boi in the main ...

Source: Agromeat