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MARKETS - Steer prices fell below US$3
July 12, 2018

An unfortunate chain of events for the Paraguayan beef industry is taking place.

The illegal beef import scandal; the lack of containers for the industry to export its produce; a colder weather and the strong competition of Brazil in Chile, left a perfect combination for steer prices to drop below US$ 3 per kg cw, a livestock operator told WBR. The industry is reducing its activity and even closing facilities. We are clearly going through a complicated phase, he recognized.

This Tuesday the industry presented a list of referential prices that were, on average, 10 cents below last weeks. Steers with the demanded traceability for the EU market were bought for US$ 3 kg cw, general steers for US$ 2.90 and finished cows for US$ 2.70. Farmers are not a lot of cattle for those prices either, the source said. The industry is alleging that the lack of containers has made their stocks grow and even delayed shipments to Russia, that have cost fines. According to the source, the audit being made by Sencacsa to the Concepción packers will finish between Tuesday and Wednesday. If the judgment is favorable, this facility will recover the authorization to export to Taiwan, Chile, Israel and the European Union. This packer is processing 400 heads on a daily basis.

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