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ARGENTINA – Update on Curupi Pora farm activities (March 2023)

Situation/weather: We are still suffering from heat waves and lack of rains (light rainfall evaporates immediately due to the heat). This is the 3rd consecutive year that Uruguay, south of Brazil, Paraguay and Argentina are experiencing La Niña weather phenomenon. Please see the Article from La Nacion dated 13/03/23 which addresses the impact and consequences of this situation. We were not affected by fire as it is the case in several farms in the region, and overall the farm has decent pasture in comparison with other neighbouring farms.

Cattle operation: We have currently above 6,800 heads at the farm, of which 2,060 spring calves. Around 50% of them are males which are going to be sold. 900 female are going to be kept for internal reposition and the other will be available for sale. By end of March, we will perform pregnancy test of spring service.

Here you can see some cows and baby calves almost 6 months old (around 180 kg/head). We are preparing 1st sales of this cycle with 240 male calves.

Here you some heifers of 18 months which will enter in service by end of this year. You can see that they are in very good condition.

To assure optimal water distribution and availability for the cattle, we are currently building a new water tank. You can see here the basement of the construction.

ARGENTINA – Update on Curupi Pora farm activities (January 2023)

Situation/weather: Heat waves are back! Temperatures reached stifling highs, exceeding 40°c in many provinces.

Hot, dry weather and low humidity levels are also creating dangerous fire conditions. Fire-fighters are already mobilized to fight against fires as you can see.

We are not exempted in Corrientes region as the situation has been classified under extreme vigilance by the authorities for forest or brush fires. Our staff is under permanent alert to control small events. For bigger, we need the support of the fire fighters with their equipments.

Cattle operation: We have currently above 6,800 heads at the farm, of which 2,000 are calves. Heat stress can strongly impact the animals at various levels (well-being, production, diet, fertility, etc.). To management this stress, we are adjusting food supply (silage, completed with corn and pellets).

Meat prices have recently increased by 30% (ie supermarket prices) to adjust to inflation as they were so far below the inflation level on the local market (see article from LaNacion dated 24/01/23). So, producers are expecting further increase of meat prices they get in the coming months (up to 20%).

Grassing area has reducing given the lack of water. You can see the very low level of the river Santa Lucia which is bordering our farm.

This year, we have subleased to a contractor 200 ha where corn has been sowed. We will be paid in kind as we need corn to feed our heard. As you can see, the contractor started his harvest.

ARGENTINA – Update on San Bartolo farm activities (October 2022).

Weather/Situation: The climatic conditions related to La Niña are well present with below average rainfall over Argentina, Uruguay and the extreme south of Brazil and abnormal increases in temperatures for the season. In Salta, we are already recording peaks of over 35°C. This trend will continue for the coming months. This situation wills emphasis pasture availability. We cannot replant under those conditions sufficient pastures and we will be force to by supplementation whose prices are strongly rising.

You can see some fences which have been repaired after the fire that we faced last year due to drought and windy conditions. The fences are repaired internally with wood available at the farm in order to reduce costs.

Cattle operation: We have around 2,000 heads at the farm, mostly cows, heifers and calves. Our cattle is relatively in good shape given the lack of grassing area available at the farm. It’s the direct result of 2 years of dryness. Below you can see some heifers. Most of them will start their 1st service end of December.

Our main difficulties at the farm are to manage food and the regrowth of the natural forest/vegetation.

ARGENTINA – Review of Curupi Pora farm activities (October 2022).

Situation/Weather: The farm is in very good shape but the pastures are still less dense as they should be for the period due to lack of water previously recorded. Soil will need time to recover from the intense drought the region faced earlier. Having that it minds, the latest weather forecasts are predicting a new La Niña event for this season. Most models agree that the current season will be marked by a La Niña phenomenon of weak intensity, but it could generate very significant impacts in productive areas due to being the second consecutive La Niña event. So, we should expect another drought season …and we already need more rain.

Cattle: We have over 5,300 heads at the farm, in good body condition as you can see below in the various categories.

You can also see a new cover that we put in place in one of our water tank that we renovated. Water conservation is key for the activity, especially in drought periods

We have currently 600 baby calves from latest service and there mothers which would need more pastures to recover their body condition.

Regarding beef prices, they remain very firm as you can see on the chart (2 years steer prices in USD of 300/390 Kg – source: CEPA).


Argentina’s beef exports have increased year-on-year by around 20% even if the demand from China is lower currently than 1 year ago(ie more focused on poultry and pork).

ARGENTINA – Review of Curupi Pora farm activities (July 2022).

Situation/Weather: The farm is in very good shape and has recovered from the previous drought period. However, pastures are less dense as they should be for the period due to lack of water previously recorded. Soil will need time to recover from the intense drought the region faced earlier.

Cattle: We have around 5,000 heads at the farm, in good body condition as you can see below in the various categories.

The herd was relatively resilient given the high heat recorded previously (mortality rate 0.6%). The most sensitive categories were supplemented, which obliged us to buy back fodder and pellets, whose prices are rising. We proceed to an early weaning so that mothers can recover before winter service. The annual production objective will not be met due to the impact of the drought on the cycle. However, we are registering good sale performance as market prices are at their peak. 480 Calves (male/female) will be sold in the coming weeks.

ARGENTINA – A rampant inflation (July 2022).

Argentines face the prospect of 90% inflation by year end after the brutal resignation on 02/07/22 of is economy ministers.  The dramatic exit of Martín Guzmán this month led to price mark-ups by many businesses. Some Argentines raced to the shops the morning after Guzmán quit, to try to stock up ahead of peso devaluation and price hikes. The Central Bank comes under pressure to let the peso depreciate more rapidly.

Consulting firms in Buenos Aires, such as EconViews, FMyA, Alberdi Partners and EcoGo, are now predicting 2022 year-end inflation of 90%. That would be the fastest pace since hyperinflation three decades ago, and the highest rate in the world outside Venezuela and Sudan, according to forecasts from the IMF.  Farmers are also hanging on to more of their crops than normal to defend against inflation. Growers have long used hoarding to shield against Argentina’s notoriously volatile economy, especially gyrations in currency and export taxes. But this year, spiraling inflation is exacerbating the dynamic (less than 45% of the global soy harvest has been sold).

More hoarding signals slower shipments of soy oil and soy meal at a time when food supply chains are already heavily disrupted by the lingering impact of the pandemic and the war in Ukraine. It also curtails hard currency flows to Argentina which exacerbate his debt problem. It’s a very volatile situation.


ARGENTINA – A complicated year for forestry (July 2022).

Among our assets, we have a forest of 750 ha called Tata Cua composed of pine, eucalyptus and grevillea trees. Fires in the region have again caused severe damage by burning more than 20,000 ha per day, destroying plantations (rice, corn, soybeans, pastures) during the peak period of the drought registered earlier this year. Given the risk of fire, many forest owners preferred to carry out cuts in advance. On our side, we have been looking unsuccessfully for operators to evacuate our death wood affected by fire in 2020.

Internal maintenance as well as the section bordering roads have been cleaned to prevent from fire or else have been performed.

Our options are limited given the damages caused by the fire and the current gasoil shortage which reduces our internal actions.

ARGENTINA – Fuel shortages may hamper harvesting and agricultural activities (June 2022)

Argentina is grappling with shortages of diesel fuel that powers tractors and trucks just as the soybean and corn harvests pick up in the powerhouse crop exporter (see article from LaNacion dated 16/05/22).

Farmers ready for fieldwork and truckers who drive the crops to port are reporting rationing and soaring prices across the Pampas growing belt and in the northern regions. Autumn is a time of busy truck traffic, which is the main means of transporting grains in Argentina to the ports around Rosario, the country’s main farming port hub on the banks of the Paraná River (around 86% of soybean transportation to Argentina’s ports is carried out by trucks, 13% by trains and the remaining 1% by ships). Argentina is the world’s biggest exporter of soy meal and soy oil and the 3rd biggest corn supplier in the world. Last year, the combined exports of those products generated over USD 30 billion.

Many farming activities depending on diesel use are affected and you can see below the “Gasoil supply map” created by Argentine transport association (FADEEAC) which aims to monitor in real time the availability of fuel in Argentina.

The big problem which is creating this shortage is the local prices of diesel. They are too low compared to imported products. If it’s imported as it is mostly the case, there is a big loss. Diesel production within Argentina rose only 1.5% on the year in January 2022. Refiners said they have stepped up imports despite rising global prices and sell locally at government-controlled prices nearly a third less. Finding diesel cargoes are not easy either, with Europe pulling the marginal distillate barrel instead of Latin America (see article from El Litoral dated 20/05/22).

Most countries in Latin America are very worried about the diesel supply chain. Demand for refined products has also increased drastically in Brazil but refineries aren’t able to satisfy those demands to. In our case, we have filled our tanks at San Bartolo and at Curupi Pora farms (2,000 liters each) and we are trying to stock as much as possible diesel via jerry cans. For now, our usual suppliers can only deliver 200 liters – so we are diversifying suppliers but prices are going up. On average, we need 2,000 liters per month for those 2 farms. We hope that the situation is going to reveres otherwise; we would need to reduce machinery activities.

ARGENTINA – Update on Curupi Pora farm activities (May 2022)

Situation/weather: Rains are back but remain still below the historical average for the season. Cumulative rainfall for July-April were 38% below the normal level. Stronger rains are forecasted in July. Winter period should also be warmer than usually. Short term, rainfall helped the regrowth of the pasture which were lacking. Soil will need time to recover from the intense drought the region faced earlier.

Cattle operation: We have around 6,000 heads at the farm, in fantastic shape as you can see. We are currently testing pregnancy of heifers previously inseminated. So far, we have registered around 2,000 births.

In terms of beef production, we reached 53% of the annual objective by end of April with 325 tons of production. Given the drought and all its implications, we will not be able to reach our annual beef production objective of 620 tons. However, we could maintain a high pregnancy ratio and a great shape of the herd which is essential to generate future incomes.

As previously mentioned, we are in the peak season of cattle sales. During May, we are going to sell 220 female calves and 260 calves. Market prices are at their peak (they could be higher if quotas were lifted). After 2 complicated years for the sector, economical results are improving and again profitable, the, although uncertainty persists due to the strong volatility and high prices of grains. Meanwhile, breeders highlighted the good wintering prices and the importance of beef exports to China.