Using the latest available farmland price data and 2026 cattle-market references, the cost of one hectare of Uruguayan farmland is equivalent to approximately 1,335 kg of finished steer (live weight). Farmland has not become cheaper in US dollars. Cattle prices have simply risen much faster than land prices, improving the purchasing power of livestock producers relative to farmland.
Investors often track Uruguay farmland prices in US dollars per hectare. Producers, family offices and agribusiness investors also use a second yardstick, the land-to-cattle ratio: how many kilos of steer must be sold to buy one hectare. It shows how accessible land is relative to what the land produces.
At Escritorio Arrospide,, this is one of the most common questions we hear from international buyers and recently very often from local cattle producers. The following report explains the ratio, the official data behind it and what it means for anyone considering a farmland investment in Uruguay.
Land is normally quoted in US dollars per hectare. But Uruguay is a beef-exporting country and cattle farming is the backbone of its rural economy. For a livestock producer, a more intuitive question is: how many kilos of finished steer do I have to sell to buy one hectare?
The calculation is simple:
Farmland price per hectare ÷ steer price per kg = kilos of steer needed per hectare
The ratio compares two assets that are directly linked, the land and the product it generates. When cattle prices rise faster than land prices, fewer kilos are needed to buy a hectare. The ratio does not replace the dollar price per hectare, but it adds a useful measure of purchasing power and of how the Uruguay land market is evolving.
The sector references behind this indicator show a clear shift:
Between 2024 and 2025 alone, the number of kilos needed fell by about 17%. Measured from 2024 to the 2026 reference, the decline is close to 29%.
Important note on the 2026 figure: it is a sector market reference, not an official annual average for the whole Uruguayan market. Official 2026 farmland transaction data from MGAP-DIEA has not yet been processed, so the 2026 calculation uses the last official national average (2025) for land and the INAC average steer price for January–August 2026. Treat it as a partial indicator subject to revision at year-end.
| Year | Average land price (DIEA) | Finished steer, live weight (INAC) | Kg of steer per ha |
|---|---|---|---|
| 2023 | US$ 3,783/ha | ≈ US$ 2.14/kg | ≈ 1,768 kg |
| 2024 | US$ 3,967/ha | ≈ US$ 2.12/kg | ≈ 1,871 kg |
| 2025 | US$ 4,178/ha | ≈ US$ 2.69/kg | ≈ 1,556 kg |
| 2026 * | US$ 4,178 (No official 2026 data) | ≈ US$ 3.13/kg | ≈ 1,335 kg |
Sources: Land price: MGAP-DIEA, national average price of agricultural land sales (not tied to any specific CONEAT index). Steer price: INAC, “Finished steer, live weight” category, weighted annual average of recorded transactions.
* 2026: land price data not available. The last official DIEA national average (2025, US$ 4,178/ha) is used as a reference. The 2026 finished steer price is the INAC average for January–August 2026 (8 months), a partial figure subject to revision at year-end.
The official numbers explain the trend. According to MGAP-DIEA, Uruguay recorded 1,718 farmland sales in 2025, covering about 259,000 hectares, at a national average of US$4,178 per hectare. In 2024 the average was US$3,967 per hectare, so land prices rose about 5.3% in dollar terms.
Over the same period, INAC reports that the average annual price of finished steer rose 27.2% in 2025.
Land appreciated, but cattle appreciated far more. That gap is what pushed the land-to-steer ratio down.
One more detail is worth noting. In 2024 the ratio actually worsened slightly compared with 2023: steer prices were flat (US$2.14 to US$2.12/kg) while land rose from US$3,783 to US$3,967 per hectare. The turnaround came in 2025, when the steer price jumped and livestock producers’ purchasing power improved markedly.
The 2025 national average of US$4,178/ha is useful for tracking the overall market, but it does not describe the value of any specific property. Uruguay has no single “price of a hectare.” The market includes:
A large cattle ranch in the north cannot be compared with high-yield cropland along the Uruguay River or an estate close to Montevideo. Notable differences can exist even within the same department.
Professional farmland valuation in Uruguay looks at location, soil quality and CONEAT index (the national soil productivity rating), productive capacity, water access, infrastructure, road access, scale, current operations and price. The legal status of the property can also be a decisive factor in negotiations.
The land-to-steer ratio adds a valuable dimension for cattle ranches, but it does not replace a full evaluation of each property.
For cattle producers: fewer kilos of finished steer are now needed to acquire a hectare than two or three years ago, which strengthens the purchasing power of anyone earning dollar income from livestock.
For international investors and family offices: the ratio is a useful sign of market timing and relative value, but it is one input among several. Uruguayan farmland remains high by historical standards, and dispersion by region and quality is significant. A purchase decision should never rest on the ratio alone. The more important question is: which property am I buying, at what price, and what productive and asset-value potential does it have?
For investors comparing farmland opportunities, the ratio is only the starting point. The next step is to compare individual properties by price, productivity, location and income potential. Visit our : Land for sale in Uruguay listed properties
A good purchase is not necessarily the cheapest land per hectare. It is the property with the best balance of price, productivity, location, scale and long-term potential.
The ratio currently looks more favorable for livestock producers than it did two or three years ago, and for many established producers this is a good moment to expand. For other buyers there is no single answer. Real assets like farmland are long-term investments, to be judged on yield, income and land value appreciation over time.
For buyers looking at livestock or mixed crop-livestock farms, Escritorio Arrospide currently lists, among other properties:
Our listings are updated regularly. land for sale in Uruguay
How many kilos of finished steer does it take to buy one hectare of farmland in Uruguay?
Market references for 2026 put it at about 1,335 kg of finished steer (live weight) per hectare, versus about 1,871 kg in 2024.
What is the average price of farmland in Uruguay?
According to MGAP-DIEA, the 2025 national average was US$4,178 per hectare, up about 5.3% from US$3,967 in 2024.
Why has the ratio fallen?
Because of the extraordinary moment in steer prices. INAC reports a 27.2% rise in the average steer price in 2025, against about 5.3% for land.
Has Uruguayan farmland become cheaper?
No. In US dollars the average price has risen. It has become cheaper only when measured in kilos of cattle.
At Escritorio Arrospide Agribusiness, we evaluate every transaction beyond the price per hectare, looking for the best investment for each client. Our expertise spans both the productive and the real estate side of Uruguayan agribusiness. Our expert team assesses location, soils, CONEAT index, productive capacity, scale and the pros and cons of each property, always with a long-term view of yield, income and land value appreciation.
If you are considering buying a cattle, mixed crop-livestock or other rural property in Uruguay, we can help you identify farms that fit your investment profile and goals. Contact Our Team
Farmland transaction data comes from the Statistics Division (DIEA-MGAP) of Uruguay’s Ministry of Livestock, Agriculture and Fisheries (MGAP). Cattle prices come fromINAC’s finished steer price series, Uruguay’s National Meat Institute, using the official series for finished steer (live weight).
The 2026 calculation uses the 2025 official land price as a reference until new data is available to update.
Thursday October 8th, 2026 | Por Arrospide
