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MARKETS - Uruguay has now the most expensive steer in the region
May 15, 2018

As of this week, the highest price of steer in the Mercosur is t he Uruguayan, shifting to the second place is Paraguay, who had the highest price since the beginning of the year.

Before that, and throughout 2017, the costliest steer was the Argentinian. The average price for finished steer in the Mercosur countries is down again this week. The WBR Mercosur Steer Index we nt down US$ 4 cents to US$ 2.83 kg cw. Since February, the index has lost US$ 20 cents, or 6.6%.

This week the biggest price loss was in Paraguay. An improvement in the weather conditions has made place for normal cattle transactions and that has eased quotes, together with the Brazilian supply to the Chilean market, that generates strong competition.

Meanwhile in Uruguay, prices show the upward pressure as the market is dominated by the scarcity of cattle, particularly quality cattle.

In Argentina the export-steer value has remained unvaried in the last several weeks. The dollar strength diminished the price when expressed in the US currency by US$ 4 cents last week.
The Brazilian market remains weak. Supply is higher than dem and and this has led the finished cattle price to drop a 1.2% in average in the week to R$/@ 133.7 in the main exporting states. When expressed in US dollars, the loss is proportionally smaller, with a reference of US$ 2.57 kg cw, down US$ 2 cents in the week.

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