Europe seeks to consolidate

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.