June 16, 2008

Uruguay beef export prices up 79 percent on-year
   
  

Uruguayan unprocessed beef exports reached a record of 25,769 tonnes in May at an average price of US$5,466 per tonne, up 79 percent on-year.

Uruguay had shifted its exports to Russia and the EU where beef prices were higher due to restricted supplies from Brazil and Argentina. The move had paid off as export values rose - chilled beef and frozen beef in the EU costs US$15,569 and US$8,300 per tonne respectively, while total average prices in Russia are US$3,699 per tonne.

In comparison, the US accounted for only 3 percent of Uruguayan beef exports in May, a staggering drop from 83 percent in May 2005.

Uruguayan cattle prices remain high, reaching 135 cent per kg lwt for steers during the last week of May and grain-finished steers reached values over 300 cents per kg cwt.