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Argentina

Exporters ask the government to scrap export taxes and are hopeful for a positive resolution

As WBR reported in its previous edition, exporting slaughterhouses have asked the government to suspend beef export duties, at least temporarily, the ABC chamber confirmed to La Nación. They also requested, among other measures, payment of the export rebates—1.25 % for frozen beef and 1.50 % for chilled beef—overdue for nine months. “Officials showed a willingness to listen. We laid out the situation and they said they are analyzing it. We hope for a positive response,” they said.

Uruguay - Markets

Sheepmeat market stays firm

The slaughter sheep market also remains firm, with the same price references as in previous weeks: around US$ 4.30 per kilo carcass weight for lambs and US$ 3.50-3.60 for mutton.

Brasil - Markets

The wind has changed for the finished cattle market

Finished cattle prices in Brazil ended a five-week streak of gains—during which the finished male rose by R$/@ 26—and turned lower this week. A larger supply of animals at the end of the marketing season put buyers in a more comfortable position, Agrifatto said.

FOB Mercosur

MENA finds it hard to close beef deals

“A Brazilian forequarter above US$/t 5,000 is unviable for most Middle Eastern countries,” a regional trader said. That explains the depressed trade flow: these destinations face lower oil prices and currency devaluations.

FOB Mercosur

Mixed signals in the US

The US import market shows “two faces,” a trader said. Grass-fed or organic programs have resumed normal flow after the Trump tariffs: importers absorb the 10% duty or—thanks to China’s recent upswing—are willing to pay a bit more. Example: grass-fed knuckle from the region sold at US$/t 6,500-6,700 FOB outside quota (36.4% duty applies).

FOB Mercosur

Europe tries to cap Hilton prices

Hilton rump & loin prices are testing their ceiling in Europe, although scarce supply keeps values firm. Argentine exporters are asking US$/t 18,100-18,200 FOB for new loads—though some business closed at US$/t 17,800, an importer said. Sources agree the market looks much like last week, but importers are applying strong downward pressure. “Deals are happening between US$ 17,600 and 18,200,” one operator said.

FOB Mercosur

Stable prices in China, but pressure to pay less persists

Chinese demand turned more cautious late last week. A regional broker said importers again tried to push Mercosur purchase prices lower—though selling pressure was also light. Several exporters are managing stocks to lock in as many deals as possible during the upcoming SIAL Shanghai show. Reported Uruguayan sales were US$/t 3,850 CFR for bone-in brisket, US$/t 4,000 for navel plate and US$/t 5,800 for shin & shank. Industry sources told World Beef Report (WBR) of early-week business at US$/t 6,300 for shin & shank, US$/t 5,500 for regular chuck & blade, US$/t 5,700 for Angus chuck & blade and US$/t 4,500 CFR for rib plate, steady to slightly softer than a week earlier.

Asia

China cancels purchase of 12,000 t of U.S. pork over tariffs

Tariffs are beginning to affect U.S. meat exports, and China has made its largest cancellation of U.S. pork orders since 2020, according to Thursday data from the U.S. Department of Agriculture. The cancellation of 12,000 t of U.S. pork is the biggest since the Covid-19 pandemic disrupted supply chains, and total U.S. pork export sales last week fell to their lowest level since October.

Oceania

Lamb, mutton and goat Australian processors gain expanded access to China

Approvals have been granted for 17 additional Australian mutton, lamb and goatmeat export establishments to access the China market, Beef Central said. The outcome is a significant win for Australian sheep, lamb and goat processing and export businesses that will have benefits across the red meat supply chain, the Australian Meat Industry Council said.

Oceania

New Zealand’s Q1 2025 beef exports rise 1.3%

New Zealand’s beef exports in the first quarter of 2025 rose 1.3% year-on-year (YoY) to 134,240 metric tons, according to the latest data from Stats NZ. Stronger volumes to key markets including the United States, Canada, Korea, Taiwan, and the United Kingdom supported the quarterly gain. Exports to China and Japan pulled back, but total shipments still edged up by 1,781 mt.

Europe

Bullock prices skyrocket 50% in the year so far

In recent months, beef prices across Europe have escalated to unprecedented levels, driven by a confluence of factors affecting both supply and demand. In US$ terms, bullock prices reached almost 8,50, after starting the year at US$ 5,65, an increase of almost 50%. The strength of the € also contributes.

North America - Markets

Lower beef imported prices

Compared to the last market test, US beef import prices were mostly moderately lower. Trading remained slow. Trade uncertainty over tariff rates continued to limit out-front sales.

North America - Markets

Firmer fed cattle prices

Fed cattle prices are continuing to rise. Gains past week are expected again this week as prices test the US$/cwt 220 area. This past week the sales in the south were at US$/cwt 212-213 with northern sales mainly at US$/cwt 215-218 live.

North America

US consumer sentiment remains weak in April on tariffs concerns

US consumer sentiment ebbed for a fourth straight month in April amid concerns about the economic impact of tariffs. The University of Michigan Surveys of Consumers said on Friday its Consumer Sentiment Index came in at 52.2 this month. While that was an improvement from a reading of 50.8 two weeks ago, the index was down sharply from 57.0 in March. Economists polled by Reuters had forecasted the final index reading unchanged at 50.8.

North America

Trump now says he is open to a sharp tariff cut with China

U.S. President Donald Trump told reporters in the Oval Office last week that the current 145 percent tariff Americans pay on Chinese imports is likely to be “reduced significantly.” While he stressed the rate “will not be zero,” he expressed optimism about a possible trade deal with Chinese President Xi Jinping.

Uruguay - Markets

Weekly steer slaughter highest in almost three years

Production for a new window of the EU 481 grainfed quota sharply boosted cattle slaughter last week, especially for steers and heifers. INAC reported that 52,609 heads entered slaughter plants in the week to 26 April, the largest tally since the week ended 25 January, when slaughterhouses were actively working for the previous quota window.

Brazil

JBS now worth more than R$ 100 billion on the Brazilian stock exchange

The U.S. Securities and Exchange Commission (SEC) approval for JBS to list its shares in the United States was widely expected by the market, but it still lifted investor sentiment: JBS stock in São Paulo rose 6.38 percent following the confirmation, adding R$ 6.3 billion in market value. In 2025 so far, JBS shares have gained 29 percent, boosting the company’s capitalization by R$ 24.5 billion to about R$ 105 billion (roughly US$ 18.5 billion).

Uruguay

Heifers are the star of the domestic market

The shortage of steers and the high prices paid for slaughter cattle are pushing processors to work increasingly with heifers. So far this year (to 19 April) total cattle slaughter is up 3.5% year-on-year, with a modest rise in the number of steers and a similarly modest drop in cows. Heifer slaughter, however, has jumped a solid 18.5 %.

Argentina - Markets

Prices appear to have steadied after some jolts

After the short Easter week and the policy announcements, slaughter cattle prices seem to have stabilized at last week’s levels. The best export steers—British crossbreds— quote in the Ar$ 5,000 5,100 range per kilo dressed weight, while zebu cross steers fetch Ar$ 4,900 5,000.

Argentina

March exports fell 36 % year on year

Exports of chilled and frozen beef reached 43,379 t (product weight) in March, down 17.2 % from February, 36.1 % from March 2024 and the lowest monthly volume since January 2022. In terms of value, shipments totaled US$ 205.9 million, 20.1 % lower both month on month and year on year.

Uruguay - Markets

Minimal supply of sheep

Supply of sheep for slaughter is almost nil and current demand is likewise very limited. There is speculation that plants in the north west (Casa Blanca) and in the south central region (Trinidad) may resume activity with the species.

Uruguay - Markets

Firm market with stable prices

With part of the industry focused from this week on the production window for EU Quota 481, the market for grassfed cattle remained stable. Trading is brisk, with plant bookings no more than a week out and prices at the same level as last week.

Brazil

Average export price back above US$ 5,000/t

Brazil’s average beef export value reached US$ 5,041/t in the third week of April, surpassing the US$ 5,000/t mark for the first time in 11 weeks (since the third week of January). This was the fifth consecutive weekly increase; since the second week of March the average export value has risen 3.7 %, mirroring the price rebound that began in mid February.

FOB Mercosur - Markets

Mercosur steer hits highest level since mid 2022

Average slaughter cattle prices in the Mercosur countries topped US$ 4.00 per kg carcass weight for the first time since mid 2022, buoyed by a weaker US dollar and a firm international beef market.

The WBR Mercosur Steer Index gained 17 cents on the week to US$ 4.06/kg carcass weight, up 22 cents over the past two weeks.

Brazil - Markets

With limited activity, prices keep rising

Trading in Brazil’s slaughter cattle market was subdued last week because of the Easter holidays, which were followed by another holiday on Monday of this week. Even so, prices kept moving higher, supported by good pasture conditions that let producers pace their offerings.

FOB Mercosur

Chile buys short

Import prices in Chile held steady last week: Brazil at US$ 6,100/t CFR for the 19 cut pack and Paraguay at US$ 6,300/t. “Purchases are very short because everyone expects higher prices for June–July shipments.

FOB Mercosur

Negotiations with Israel move forward

Talks with Israel’s regional suppliers are under way, with the first special kosher teams expected early next month. An importer told WBR that some crews leave Israel next week, while most depart 4–5 May to start slaughter on 7–8 May.