Trade flows with China have yet to reach the level of fluidity that some exporters are hoping for. A Brazilian exporter told World Beef Report (WBR) that although he managed to close deals at the end of last week for forequarter 8-cut sets at up to US$/t 6,100 CFR, the market now appeared “more complicated” again, with demand looking “weaker.”

“This week, several Chinese importers were seeking lamb, but there’s practically nothing available to offer from Uruguay,” said a trader.

According to feedback from various brokers and exporters from Argentina and Uruguay, the rump & loin market under the Hilton quota showed “firmer” conditions last week. “It feels like prices have hit a floor and are now trying to consolidate,” said one agent. Argentine sources reported more frequent trades in the range of US$/t 16,800–17,000 FOB last week. For Hilton round cuts, sales were reported at US$/t 7,200 FOB.

The European Commission reported that as of yesterday, 5,994.592 tons were waiting for entry under quota 481.

“Now that it’s clear the 10% tariff is staying in place, the U.S. has started buying aggressively and demand has picked up,” an Argentine market operator told WBR. He cited reference prices under quota of US$/t 19,000 FOB for chilled rib eye, US$/t 15,000 for striploin, US$/t 10,000 for rump, and US$/t 25,500 for tenderloins.

Despite some challenging weather in recent days due to snowfall, the Los Andes border crossing remained fluid.

The average price of steers for slaughter in Mercosur countries experienced a slight correction of 1 cent during the week. The WBR Mercosur Steer Index stood at US$ 4.01 per kilo carcass weight.

Brazil could feedlot 8.53 million head of cattle in 2025, a 7.1% increase from the previous year, when 7.96 million cattle were confined, according to data from the 2025 Feedlot Tour, a study conducted by DSM-Firmenich, a global company specialized in mineral and vitamin supplements for intensive livestock production.

Vietnam has authorized the first Brazilian meatpacking plant to export beef. On Saturday (June 28), Vietnamese authorities confirmed the approval of JBS’s facility in Mozarlândia (GO), which is now cleared to begin shipments to the Asian country.

Minerva has filed a petition with Brazil’s Administrative Council for Economic Defense (CADE) challenging the approval of the merger between Marfrig and BRF. The company argues that the deal was fast-tracked by CADE’s General Superintendence, when it should have been reviewed by CADE’s Tribunal due to its potential anticompetitive effects.

BRF has called an extraordinary general meeting for July 14 to vote on the merger process with Marfrig. The announcement follows the General Superintendence of CADE’s approval of the operation without restrictions in late May.

Seventeen countries have lifted restrictions on the import of Brazilian poultry, including Japan —the third-largest buyer of Brazilian chicken last year— according to Brazil’s Ministry of Agriculture and Livestock (MAPA).

The arrival of cold weather in Brazil’s south-central region boosted the supply of cattle for slaughter and pushed prices downward. In São Paulo, prices fell by R$ 5/@ over the week, according to consultancy firm Scot. The weighted average across Brazil’s main cattle-producing regions for finished cattle with 30-day payment terms and exempt from the Funrural tax stands at R$ 300.4/@, down R$ 3.4 on the week, ending a four-week upward streak.

In the first half of 2025, Uruguay exported 198,000 tons of beef at an average value of US$ 6,592 per ton, according to export application data reported by Customs.

Tariffs and uncertainty caused by the back-and-forth in U.S. trade policy led to a sharp drop in beef exports to the United States in June. Shipments totaled 6,864 tons (shipment weight), nearly half the peak of over 13,000 tons reached in April, and the lowest volume since July of last year, 11 months ago.

Uruguayan frozen beef exports to EU member countries continue to grow at a strong pace, supported by declining domestic production in Europe. In June, according to Customs data, 2,550 tons were shipped—the largest monthly volume in more than 13 years, since May 2012.

Live cattle exports grew by 76,000 head in the 2024/25 fiscal year (July–June), a 25% increase, driven by growing demand from Turkey, where finished cattle prices are extremely high —quoted above US$ 11 per kilo carcass weight (see Europe).

The new proposal by Minerva Group to acquire three of its competitor Marfrig’s plants in Uruguay —while later divesting two— would not significantly alter market concentration, aside from the group’s clear dominance with just over one-third of the national slaughter.

The expectation that the market might seek a new price balance after last week —affected by lower demand from some plants and the intense cold of the past two weeks— did not materialize. The market remains on an upward trend, with prices now 5–10 cents above previous benchmarks.

Cattle slaughter rose moderately last week, staying around the 45,000-head mark recorded the previous week. INAC reported that 45,274 head of cattle were processed in the week ending June 28, an increase of 800 head (2%) from the previous week and 4,000 more than the same week last year.

Exports of bone-in sheepmeat to Israel are resuming, bringing renewed buying interest for slaughter sheep at a time when supply —typical for winter— is very limited.

After two postponements since March, the government has finally authorized the entry of bone-in beef into Patagonia, albeit limited to flat bones such as short ribs, rib sets, and sternum. Through Resolution 460/25, the sanitary barrier separating Patagonia —free of foot-and-mouth disease (FMD) without vaccination —from the rest of the country —also FMD-free but with vaccination— was relaxed.

On Monday, the decree that temporarily reduced export duties (DEX) for certain crops —enacted on January 27 amid extremely tight profit margins— officially expired. While the government had already extended the reduced rates for wheat and barley until March 2026 ahead of winter cereal planting, it did not do the same for soybeans and corn, Argentina’s two most important crops. As a result, soybean export taxes rose from 26% back to 33%, and corn from 9.5% to 12%, returning to pre-January levels.

Export steer prices saw another upward adjustment of about AR$ 50 per kilo carcass weight.

After a sharp downward correction in early June, slaughter cattle prices in Paraguay completed a month of stability. Market sources reported prices of US$ 3.50 per kg for regular finished males and US$ 3.20 for fat cows. Bookings remain short, averaging about one week.

As America’s largest trading partners race toward deals, they are increasingly worried about being hit with future tariffs on their critical industries, The New York Times reported.

Last week, JBS completed a US$ 3.5 billion bond issuance maturing in 40 years—the largest transaction of its kind by a Brazilian company. The bonds will mature in 2064 and carry a 7.25% annual interest rate.

Texas has become the seventh U.S. state to ban the sale of lab-grown meat. Governor Greg Abbott signed SB 261 into law, prohibiting the sale of cell-cultured meat for human consumption within the state. The law will go into effect on September 1 and remain valid through September 7, 2027.

Last week, cattle sold in Kansas and Texas at US$/cwt 224-5 live but some moved up to US$/cwt 226 Friday. In the north additional trades developed Friday moving from the bulk of sales Thursday at US$/cwt 230-2 to 233 Friday. Dressed sales ranged from US$/cwt 368 to 372. These prices were US$/cwt 3-4 lower for the second week in a row, The AG Center said.

Compared to the last market test, US beef import prices were firm to higher. Trading was slow to moderate. Good demand in the lead up to the Independence Day holiday weekend and stronger domestic prices supported import values.

Turkey’s livestock sector is once again facing the threat of foot-and-mouth disease. In recent days, cases have been detected particularly in provinces with intensive livestock activity such as Konya, Manisa, Van, Sinop, Afyonkarahisar, and Düzce, according to Turkish media reports. Due to the rapid spread of the disease, livestock markets have been closed in many regions, Turkish media informed.

Cattle prices in Turkey surged sharply last week, likely driven by the suspension of sales due to foot-and-mouth outbreaks in several provinces. Last week, cow prices rose by 4,000 Turkish lira (about US$ 100 per head), while calf prices increased by 2,500 Turkish lira (US$ 64).

Poland has reported its first case of African swine fever (ASF) on a commercial farm in 2025. The outbreak was detected on a farm with 1,311 pigs in Luzino, Pomerania, near Gdansk, according to Eurocarne.

New Zealand’s beef exports rebounded in May 2025, posting a solid 15.7% rise from April to 49,281 tons (t), according to the latest data from Stats NZ.

China’s pork industry is undergoing modernization and consolidation, with the 17 main publicly listed companies in the sector expected to produce around 217 million pigs in 2025, an increase of 38.1 million from 2024. Some major firms such as Muyuan, Wen’s Group, and Twins plan to expand their operations by over 1 million head each. Muyuan, the largest, aims to reach 78 million pigs.

China’s economy surprised with signs of improvement even as deflationary pressures persisted and employment weakened, throwing fresh doubt over the likelihood of further monetary stimulus by Beijing in the face of higher US tariffs, informed Bloomberg.

Japanese households will get no respite from rising living costs with a five-fold increase expected in the number of food items set to experience price rises in July, a private think tank survey showed on Monday.