Higher Supplies Push South American Cattle Prices Down07 May 2013
SOUTH AMERICA - After recent growth in cattle prices, an increase in supplies due to seasonal factors has contributed to South American steer prices falling during the past week, averaging 330US¢/kg cwt according to the World Beef Report.
Meat and Livestock Australia said that an increased number of cattle available for slaughter, combined with lower domestic demand (typical for the end of the month) pushed Brazilian steer price down, averaging 332US¢/kg cwt in Sao Paulo state. Brazilian cattle supplies are expected to increase in the coming weeks, putting further pressure on prices.
With increased supplies of cattle available for slaughter in some markets, Uruguayan steer price fell last week, averaging 375US¢/kg cwt - but continue to average above other South American countries.
Paraguayan steer price averaged 300US¢/kg cwt during last week, with the market still pressed by drought conditions, while Argentinean trade steer averaged 347US¢/kg cwt for the same period.TheCattleSite News Desk