Fresh drop for chilled and frozen beef in Europe

With “a bit more supply from Argentina” and a European market struggling to “pass on” recent price gains to consumers, rump & loin Hilton prices corrected downward last week. Import and export sources cited prices in the US$/t 17,000–17,500 FOB range for Argentine Hilton. In Uruguay’s case, while Europe sought to pay US$/t 16,000–16,200 FOB, most of the industry positioned at US$/t 16,500 FOB last week, said a trader.