Uruguay – Beef exports fall away
Published: 18 Mar, 2020
A disappointing start to the year for beef exports that confirm the sector difficulties in Uruguay. With about 51 thousand tonnes of carcass weight exported in the first two months of 2020, the result is a significant 28% drop compared to last year and 38% fall compared to 2018. Thanks to the high beef prices, this translated in a reduction in value of 13% and 26% in the two comparisons, respectively, amounting to about US$231 million.
This slide in exports is mirrored in a similar drop in slaughters, with the number of bovine kills down 25% in the year-to-date until the end of February, just short of 334,000 units. Cows have shown the most dramatic reduction, falling 34% against the first two months of 2019.
If anything, the strong contraction of slaughters seems to have favoured the stabilisation, and at least a modest recovery of green hide prices. The latter, since the end of December managed to trickle upward, keeping around US$¢11/kg in February, away from the historical lows, or rather the give-away price of US$¢6-7/kg witnessed between mid-October and mid-December. For further information click here.