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.