The supply of cattle added up to Wednesday 24,878 heads with prices down. Between Tuesday and Wednesday, 16.17% more were sold than the previous week, but with a lower amount of 13.15%.
Just four days before the deadline for reaching an agreement on the debt swap, Argentina’s bonds and shares accelerated their upward trajectory, with increases of up to almost 13%, given the positive expectations on the restructuring negotiations. The S&P Merval stock index rose 2.3% to 40,286.72 units. Argentine country risk, as measured by JP Morgan bank, fell 5.2% to 2,690 units.
The blue dollar fell 10 pesos to 128 pesos yesterday, narrowing the gap with the official one to 88.7%, pressured by the new measures of the Central Bank and amidst optimism for some progress in the negotiations on the foreign debt.
The dairy company Mastellone Hnos, known in the local market for its brand La Serenissima, presented yesterday the financial results of the first quarter and reported losses totalling 1.47 billion pesos ($27.68 mn), mainly because the increases in costs could not be compensated by selling prices, as detailed by the company.
The Government set by decree the support price for local oil production. In exchange for the “criollo barrel” at $45, oil companies will have to comply with a series of requirements linked to maintaining the level of employment, investments and restrictions on the exchange market.