The lower Miocene Santa Cruz Formation (dated to ~18–16 Ma) of Southern Patagonia, Argentina, preserves rich vertebrate faunas, which are representative of communities that existed prior to the Great American Biotic Interchange (GABI). Some previous researchers have hypothesized that these pre-GABI faunas had a low richness of mammalian carnivores (an impoverished predator guild), while others argue for a predator/prey ratio similar to those of recent communities. In this paper, we analyze faunas from the lower part of the Santa Cruz Formation (FL 1–7) using a methodology that allows us to quantify (i) the meat resources that were available to the secondary consumers of the palaeocommunity; and (ii) the competition intensity for these resources. In our modeling, we considered different scenarios related to meat consumption, including the possibility that several taxa had a scavenging behavior, and also differences in mortality rates between young and adult prey. Our results provide estimates of the nutritional requirements from the predator/scavenger guild under maximum and minimum quantities of meat offered by the prey community, which indicate the presence of a well-balanced palaeocommunity. Moreover, the competition indices point to a relatively high level of competition for prey of small-to-medium size, although competition for resources from large mammal prey was rather low. This suggests that the predator/scavenger guild was not impoverished, although there were insufficient carnivore species to fully consume the megaherbivore biomass.