China holds prices steady after Sial amid cautious demand

Following the close of another edition of Sial Shanghai, Brazil's trade flow with China maintained a certain “fluidity” with “firm demand,” said a Brazilian trader to the World Beef Report (WBR). “Today the market is relatively stable. I don't see any drive or motivation to raise prices,” the source commented. Reference prices for forequarters held around US$/t 5,600–5,650 CFR, according to one broker, although an exporter claimed to have sold at up to US$/t 5,800 during the fair and rib at US$/t 6,500 CFR.