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MARKETS - Uruguay. Persistent downward correction over finished cattle values.
December 25, 2018

The price of slaughter-ready cattle maintained its upward trend this week. In a survey carried out by WBR, sources consulted pointed out the firmness of the market, also highlighting the difficulty in settling agreements.

Finished cattle values continue their downward correction. Dif ficulties to close new deals become more and more frequent. Some packers are not passing prices and have withdrawn from the market. The volume currently slaughtered for the 481 quota occupies part of the industrial capacity, reducing the possibility of receiving and processing new lots. Bookings are longer, with delays in loadings.

Recent rains brought some relief to farmers which softens urgencies to sell, although this relief has not been enough to avoid the fall of prices.

There are facilities with no kosher teams that show no interest in steers, but in those working kosher, both steers and heavy cows are accepted.

Finished steers quote at US$/kg 3.15; cows at US$ 2.95 while heifers, with a stalled market, reach US$ 3 per kg cw. Within this scenario of low buying interest, cows are still the most demanded category, justified by the broad hegemony of shipments to China. At the moment there are no signs that the trend will reverse in the coming days.

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