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Two of the basic factors in Argentine beef production are its climate and its extensive grasslands which help contribute to the country's low cost of production (Carter, 1997). The favorable climate and extensive grasslands not only supported the space for large herds of cattle, but also the fertile land helped to support the farming of grain and corn used to feed the cattle. Another factor endowment, which can be considered a more advanced factor, is the well developed, flexible and transparent livestock marketing system (Carter, 1997). In this case, a open, or transparent marketing system would help to keep prices stable since it discourages and helps prevent hoarding by ranchers who might otherwise have more control over how many cattle enter the market...
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