Despite the trade war, prices remain firm in China
Import prices in China continued an upward trend despite the wave of pessimism on stock markets and economic outlooks brought on by Trump’s tariff effect. Sources in China’s import market reported to World Beef Report (WBR) that eight forequarter cuts from Brazil were trading at US$5,700/ton CFR, in a scenario where stocks of forequarter cuts remain high—though not so for butt cuts, which “are low,” according to the source. Meanwhile, one broker noted that some Brazilian plants were placing bids of US$6,000–6,100/ton for forequarter cuts.