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Australia has reached 90% of its annual beef export quota to South Korea, putting the country's safeguard mechanism on track to be triggered during July and exposing Australian beef to significantly higher tariffs.
Jun 30, 2026
Compared to the last market test, import prices for Australian and New Zealand beef were mostly moderately to sharply lower, with some instances reported as weak to lower.
Jun 29, 2026
Geopolitical developments continued to influence commodity markets last week, with oil prices remaining a key driver. According to The AG Center, crude has retreated to levels seen before the conflict, and gasoline and diesel prices are expected to follow if oil remains near US$ 70 per barrel.
Last update 06/22/2026
Latest
Australia has reached 90% of its annual beef export quota to South Korea, putting the country's safeguard mechanism on track to be triggered during July and exposing Australian beef to significantly higher tariffs.
Compared to the last market test, import prices for Australian and New Zealand beef were mostly moderately to sharply lower, with some instances reported as weak to lower.
Geopolitical developments continued to influence commodity markets last week, with oil prices remaining a key driver. According to The AG Center, crude has retreated to levels seen before the conflict, and gasoline and diesel prices are expected to follow if oil remains near US$ 70 per barrel.
Farm Action, a nonprofit agricultural advocacy organization, has released a report linking rising US beef prices to consolidation in the meatpacking industry and proposing a series of measures to strengthen domestic cattle production and increase competition in beef processing.
The US$ 150 million investment announced by JBS to expand its Cactus, Texas, plant is part of the company's strategy to reorganize its US operations, coming just days after confirming the closure of two facilities in Pennsylvania and Tennessee. The company said both moves are intended to modernize its industrial network and strengthen its long-term competitiveness.
The allocation of beef export quotas to the European Union once again emerged as one of Paraguay's main concerns during the 68th Ordinary Meeting of Mercosur's Common Market Council (CMC).
Sheep slaughter posted a moderate decline last week. With only two plants showing significant activity, INAC reported that 5,374 sheep were processed, down 1,554 head from the week ended June 20 and 41% below the same week last year. Lambs accounted for 2,856 head, or 53% of the total.
Cattle slaughter was virtually unchanged from the previous week. According to INAC, 44,792 head were processed in the week ended June 27, just 159 fewer than the previous one. Compared to the same week last year, slaughter was down only 1%.
About 700 workers at Frigorífico Carrasco, Minerva Foods' plant in the department of Canelones, have been on temporary unemployment benefits since November 1, 2025, and their coverage expires on June 30. Without an extension of the benefit or a reopening date, they would effectively face indirect dismissal as of July 1.
