Brazil pushes for better prices from China

With several Brazilian plants relatively “comfortable” in terms of sales after booking deals in previous weeks for shipments through July, packers stood firm this week in their push for higher prices. Trading sources quoted references to World Beef Report (WBR) of US$/t 5,900 CFR for forequarters in 8 cuts. One exporter added that “talks are already above US$/t 6,000,” while robbed forequarters were quoted around US$/t 4,950. Another processor said that as cattle prices are rising in Brazil, they opted to pull offers this week and wait before booking new shipments.