February 22, 2013

Brazil and Uruguay witness stable cattle prices

Regional prices in South America have kept Mercosur steer prices firm last week, at an average of US$3.40 per kilogrammes.

In Brazil, cattle prices have been stable, with short numbers to slaughter and the carnival holidays slightly increasing steer prices in all main markets.

Typical for this time of the year in Argentina is a cattle shortage, which left meatpackers with little stock, consequently pushing steer prices higher last week.

Firm demand in Uruguay assisted in buoying cattle prices, with steers averaging US$3.81 per kilogrammes. It is expected a growing number of cattle will be offered for slaughter in the following weeks, as some areas in Uruguay are becoming increasingly dry. Interestingly, the sheepmeat market also remained firm last week, despite higher slaughter volumes.