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MARKETS - Firmness f or the World Beef Report – Mercosur Steer Index.
Ocober 1, 2018

The average steer value in Mercosur countries was firm this wee k. The World Beef Report Mercosur steer index (WBR/MSI) recovered US$ 2 cents to US$ 2.55 per kilo carcass weight.

The rise took place in the two countries where prices are the lowest, Brazil and Argentina. In Brazil, the market is very strong in R$, which added another 1% to the appreciation of that currency against the US dollar. As a result, the average value of finished cattle in the main exporting states increased US$ 5 cents to US$ 2.35 per kilo carcass weight.

In Argentina export steer prices remain firm in local currency, but the main volatility factor rema ins the exchange rate. This week the Argentina peso was up 3.1% and allowed a recovery of US$ 12 cents to US$ 2.35 carcass weight in the export steer reference.

On the contrary, where prices are higher - and suffer the competition of the two major partners - the references fell again. In Paraguay the floor of the US$ 3.00 per kilo carcass was broken for the first time since the end of May to quote at US$ 2.95. In Uruguay, although there are signs that the downward trend is losing steam, the reference dropped US$ 4 cents in the wee k to US$ 3.13 per kilo.

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