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Novillo Mercosur: the devaluation of the peso caused drops in dollars in Argentina

Published May 26, 2024

Tridge summary

The article provides an overview of the current prices for export-quality steers in various South American markets, including Argentina, Brazil, Uruguay, and Paraguay, and compares them to prices in the United States and Europe. It notes a decrease in prices in Argentina and Brazil, while Uruguay experienced a slight increase. The article also mentions the impact of the financial dollars on Argentine prices and highlights the difference in price ranges among the countries. Additionally, it reports a slight increase in US prices, reaching just six cents below the nominal record, and a minor increase in European prices, driven by higher domestic prices and the value of the euro.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The value of export-type steers in the block's markets is reported, and their behavior since last week. Argentina: the drawn and weighed steer pays USD3.77, down four cents since last week. Almost without changes in the peso offers of the refrigerators, the rise in financial dollars, which represent 20% of the total foreign currency obtained by exporters, influenced this decline, which brings it closer to the current value in Uruguay, although it remains very separate from those that govern the tropical livestock farms of the region. Brazil: The fatted steer is worth USD2.97, five cents less. There was a drop of almost two points in the internal price that was cut by a slight revaluation of the currency against the dollar. Meanwhile, exports last week maintained the same dizzying pace that they have had since the first week of April, aiming to achieve a new monthly record in May. Uruguay: The export-type steer has a price of USD3.71, with an increase of four cents. Consignors ...
Source: Agromeat
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