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Cattle Prices Slide in Uruguay After August Peak
URUGUAY - Live cattle prices in Uruguay have begun to drop significantly following the meat industry’s decision to soften activity and a drop in demand from Russia and to a certain extent the European Union.According to a report from Uruguayan cattle breeders live prices had been increasing since the beginning of 2008 precisely because of the lesser winter supply of cattle and strong export demand. The tendency was so strong that cattle prices in Uruguay were above those paid in the United States, Australia and Brazil, reports Mecro Press.
That is how in three weeks live cattle prices lost 11% having dropped from 3.70 to 3.30 US dollars, -and falling— but with not many sales.
However, Mecro Press says that it must be taken into account that since spring 2007 Uruguayan farmers have been forced to send cattle to the abattoirs because of the insufficient rain fall and dried pastures, in preparation for the winter months.
The number of cattle slaughtered in abattoirs gives an idea of this process: very high volume in May and June followed by a moderation in July and a steep drop in August.
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