Novillo Mercosur: Argentina continues slowly downwards compared to the rest of the rest

Argentina

Market & Price Trends

Published Mar 29, 2024

Tridge summary

The article provides an overview of the recent fluctuations in steer prices across Mercosur countries (Argentina, Brazil, Uruguay, and Paraguay) and selected extra Mercosur markets (the United States and the European Union). In Argentina, steer prices have slightly decreased to USD3.80, while Brazil experienced a minimal increase to USD3.13. Uruguay's steer prices remained stable at USD3.66, and Paraguay's prices were also unchanged at USD3.25. Notably, Argentina's steer price is 16% higher than the weighted average of its neighbors. In contrast, the United States saw a nine-cent increase in steer prices to USD6.67, reaching a new historical nominal record, whereas the European Union witnessed a slight one-cent decrease to USD5.65. This summary highlights the dynamic and fluctuating nature of steer prices in both Mercosur and selected extra Mercosur markets.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Since last week, the dollar prices of the steer in the different Mercosur countries had the following behavior. Argentina: The weighed and traced steer pays USD3.80, at the exchange rate used by exporters, seven cents less than last week and 27 cents below the recent peak three weeks ago. The very slight drop in values offered by exporters continued, this week it was $35, and for the second consecutive time there was a devaluation in the mix exchange rate used for exports. Brazil: The fat steer is trading at USD3.13, two cents more, the result of a minimal price increase and an also minimal revaluation of the real that took the dollar to BRL4.98. Last week's shipments took a very important rhythm, of more than 11 thousand tons per day, so now the projection for March stands at 175 thousand, which is not far from the records of recent months. Uruguay: The export-type steer is worth USD3.66, unchanged for the third consecutive week, in what consignors describe as a stable market. ...

Source: Agromeat