Report 1619

The few Chinese agents who tested the beef and lamb markets after the New Year festivities maintained their stance of offering bids 15% to 20% below the prices sought by regional exporters. “They’re feeling out the market before resuming activity more actively,” summarized one broker.

Deals struck for mutton and lamb from Uruguay to China over the past week were about US$100-300/ton below those agreed prior to..

Over the past week, Taiwan showed increased interest in finalizing deals with Paraguay, quoting around US$7,900 CFR for shin & shank (5 muscle), US$4,600 for shin & shank (residual), US$8,200 for rib eye, US$6,200 for knuckle, US$6,100 for chuck tender, and US$6,300 for oyster blade.

Prices for Hilton rump & loin cuts firmed up over the past week. A European importer reported deals in the US$14,000-14,300 range for Argentine Hilton, while another intermediary said there were no offers below US$14,500 FOB this week.

As expected, the US market is among the most active options for regional exporters at the start of 2025. A Brazilian exporter reported transactions at US$4,900 CFR for a forequarter 90 CL, while in Paraguay they indicated deals as high as US$5,150 outside the quota.

With Russian references for liver below US$1,000 FOB, Uruguayan plants are finding better returns in destinations like Egypt, at around..

In the past week, Uruguay made deals with Russia for a mix that included liver at US$1,450 CFR, cheek meat at US$3,100, and head meat at..

Import prices from Chile remained stable last week, according to a Brazilian exporter who closed on the 19 cuts at US$6,350 CFR. Another source said that “there is a lot of money on the street” because Chile is still “very slow to pay.”

The average steer price in the Mercosur region rose for the sixth straight week. The WBR Index climbed 8 cents this week to US$3.86 per kilo (carcass weight), bringing the total recovery to 32 cents (9%) since the beginning of the year.

The president of the Parliamentary Front for Agriculture (FPA), Federal Deputy Pedro Lupion (PP-PR), and the vice president of the FPA in the Senate, Senator Tereza Cristina (PP-MS), criticized the proposal from a faction of the Workers’ Party (PT) calling for a temporary tax on..

The beef cattle market closed January with a slight 1.5% uptick for the arroba (@), according to researcher Thiago Bernardino de Carvalho of the Center for Applied Economic Research (Cepea). Despite this increase, the scenario poses challenges, such as declining beef prices and greater competitiveness from other proteins.

Minerva Foods’ Chief Financial Officer, Edison Ticle, believes Brazil faces two structural problems: logistics and taxation. Ticle noted that the company suffered significantly during the container crisis, given that the meatpacker exports 70% of its frozen beef production.

The price of slaughter-ready cattle in Brazil broke the upward trend that had prevailed through much of January. The average price of finished cattle dropped by R$2 per arroba to R$308 across the main exporting states. However, this was more than offset by a new..

The year 2025 began with a moderate pace in beef exports to China, offset by a solid increase in shipments to the United States.

Uruguay’s beef exports to European Union (EU) member countries began the year at a much faster pace than the previous year. According to customs data, export applications reached 3,017 tons—38% more than in the first month of 2024. The average value also rose by 12% year-on-year to US$10,705 per ton.

From final sales (to slaughter and live exports), Uruguay’s beef sector generated around US$2.524 billion in 2024, up by just over US$120 million (5%) compared to the previous year, though still below the highs of 2021 and 2022, when it neared US$3 billion.

February began with a inished cattle market displaying the same characteristics as last week and the same price references observed for the past two months.

Despite several plants being engaged in processing grainfed animals for the European 481 quota—thus reducing their interest in grassfed cattle—export-quality steers continue to be paid at..

Cattle slaughter remained high last week, with a relatively large number of steers—a typical occurrence during the production window for the European 481 quota, involving feedlot-finished animals.

The usual penalty—up to US$1 per kilo—for mutton carcasses over 24 kilos has dropped significantly. Driven by strong demand for bone-in meat in Israel, deals have been made for carcasses weighing up to 30 kilos with a discount of just 30 cents compared to the reference set by the Livestock Consignors’ Association. As a result, heavy-carcass ewes are currently priced at US$3.10 per kilo carcass weight.

“There’s a shortage of steers, and many of the calves—thanks to good spring rains and pastures—went to be raised on grass, so we estimate a 20% shortfall. We believe this will be the case until at least March,” sources at a meatpacker said.

The individual electronic traceability system for cattle, which was to begin on March 1, 2025, is being delayed until 2026, according to the National Secretariat of Agriculture. Authorities indicated that the..

Amid a marked shortage of livestock, prices for export-quality steers jumped by Ar$200 per kilo on the hook. British-breed crossbred steers are quoted between..

The year 2025 began with a brisk pace of cattle slaughter in export plants. According to data from Senacsa, 206,422 cattle were processed in January, almost 42,000 more (a 25% increase) compared to January 2024 and the highest figure for the first month of the year in at least a decade.

The average export price of Paraguayan beef in January reached US$5,622 per ton, 1.5% higher than in December and the highest level recorded at least since 2011, prior to the country’s most recent foot-and-mouth disease crisis.

Cattle prices strengthened again last week. While some processors are scheduling deliveries for the first days of March, deals for standard steers are taking place at around US$3.70 per kilo (carcass weight), while fat cows quote at US$3.50, a meatpacker told WBR.

U.S. beef imports rose 24% in 2024, led by Brazil, Uruguay, and Australia. Brazilian imports increased by 60%, Uruguayan imports by 76%, and Australian imports by 67%. Despite tariffs and quota measures, these imports are replacing domestic production, R-CALF USA argued.

Canadian cattle producers have warned the cost of beef “will greatly increase on both sides of the border” after US president Donald Trump followed through on his long-threatened plan to impose significant tariffs on three major trading partners.

Shrinking cattle supplies continues to be the story in the cattle market and part of the reason cattle prices continue to climb. USDA’s annual Cattle Inventory Report released Friday shows the US cattle inventory shrunk another 1% over the past year, now at 86.7 million head. And when you look at just the number of beef cows, that inventory fell 1%, now sitting at 27.9 million head.

Other highlights in the January Cattle report include:

• Of the 86.7 million head inventory of all cattle and calves, cows and heifers that have calved totaled 37.2 million

• The number of milk cows in the U.S. increased slightly to 9.35 million.

• US calf crop was estimated at 33.5 million head, down slightly from previous year.

• USDA NASS says the number of cattle on feed were at 14.3 million head, down 1% from 2024

“The big takeaway as we see it was the notable upward revision of last year’s numbers, and we expected that. The past year’s kills have simply been larger than implied by last year’s survey. I think most in the market anticipated that,” says Arlan Suderman, chief commodities economist with StoneX Group.

This past week featured low volumes, higher prices in the south, flat prices in the north and uncertainty over the meaning of Trump’s tariff orders for Mexico and Canada. Sales in the south at US$/cwt 208-209 live reflected US$ 7-8 higher prices but..

Compared to the last market test, US beef import prices were moderately to sharply higher. Trading was moderate to active.

In January, Australia exported 81,049 tons of beef. As usual, the first month of the year sees slower export activity due to the holiday period in the country. Nevertheless, the shipped volume was 5,500 tons higher than in January 2024, making it the..

China announced a series of tariffs on U.S. products in retaliation for the tariffs on Chinese goods imposed by U.S. President Donald Trump. The Chinese tariffs, set to take effect next Monday, include a 15% tax on coal and liquefied natural gas, as well as a 10% tax on oil, agricultural machinery, vans, and..

Chinese pork imports dropped further in 2024, reaching just 1.06 million tons. This figure represents a 32% reduction compared to 2023 (1.55 million tons) and a drop of more than 75% compared to 2020, when imports peaked at 4.38 million tons due to the African swine fever crisis.