According to a regional trader, the “speculation” component of different agents in the Chinese import market is still present. “They complain and show no firm signs of recovery,” the source summarized in a conversation with World Beef Report (WBR).

Prices for the last Hilton rump & loin deals closed during the last week strengthened again and are nearing the highs reached at the end of April. Import market sources reported purchases from Argentina in a range of US$/t 17,600–17,850 FOB for Hilton, while this week several Argentine plants were asking US$/t 18,000 for new loads.

According to agents working in the U.S. manufacturing market, activity was “more dynamic” last week. In contrast, activity for higher-value cuts or deals was “quieter,” according to a regional trader.

A Chilean importer said the purchasing period for Independence Day demand “is already closed,” with deals for the 19 cuts from Paraguay in a range of US$/t 6,200–6,400 CFR, and from Brazil at US$/t 6,000–6,100.

Last week, a Brazilian exporter reported a deal for a full forequarter to Egypt at US$/t 5,000 CFR.

The average value of slaughter cattle in Mercosur countries reached a year-high at US$ 4.06 per kilo carcass weight, 5 cents above the previous week and the highest level since late June 2022, more than three years ago.

Cattle slaughter increased by 3.3% in the second quarter of 2025 compared to the same period in 2024 and by 5.4% compared to the first quarter of 2025, reaching 10.40 million head, reported the Brazilian Institute of Geography and Statistics (IBGE) when releasing the preliminary results for the period. This result represents the production of 2.63 million tons of beef carcass weight, an annual increase of 1.0% and 6.0% compared to the first quarter of 2025.

In July 2025, Mato Grosso sent 656.49 thousand cattle to slaughter, reported Imea based on data from Indea-MT. The volume rose 7.07% month-on-month, but the increase came exclusively from the number of males slaughtered, which totaled 339 thousand head, while females fell by 6 thousand head compared to June.

Possibly because of the disruptions caused by the imposition of U.S. tariffs on Brazilian beef, the export average value in the week ending August 16 jumped to US$/t 5,735, US$ 177 above the previous week and the highest FOB average value since the 2022 peaks.

Last Thursday, the Brazilian government announced that exports of bone-in beef to the Philippines, one of the countries with the highest demand in Southeast Asia, have been authorized.

Marfrig Global Foods released late last week its results for the second quarter, closed on June 30, showing a 13% year-on-year increase in earnings.

In the market statement usually issued when presenting results, Marfrig’s chairman Marcos Molina devoted most of the space to highlighting the merger between Marfrig and BRF to create the new company MBRF.

Prices of cattle purchased by packers rose for the third consecutive week, although the pace of the increase was slower than the previous one. The average value in the main cattle-raising states averaged R$/@ 294.7, a weekly increase of 1.6%, after rising 2.6% the previous week. The value is based on references reported by consultancy Scot, excluding the Funrural tax and with 30 days for payment.

After the decline recorded in the previous month’s survey by the Instituto Plan Agropecuario (IPA), the condition of improved pastures —both artificial grasslands and forage crops— remained unchanged in the July and early August survey.

The average value of the Type Steer 2.0 (NT) recorded a slight monthly increase in July, but with notable differences in the variables that make it up, as there was a significant rise in the purchase value of steers and a sharp decline in what INAC defines as Industrial Added Value (VAI), which includes all other costs and, eventually, the industrial margin.

Even for a short week like the next one (Monday, August 25 is a public holiday), packers are finding it difficult to secure cattle, with bookings no longer than one week out and prices maintaining an upward trend.

Cattle slaughter fell by just over 2,000 head as a direct consequence of lower cow activity. INAC reported that in the week ending August 16, 45,989 head of cattle were processed, 2,130 fewer (-4%) than the previous week and 3% below the same period last year.

With the return to activity of Frigocerro and Somicar, sheep slaughter jumped last week. INAC reported that 15,814 sheep were processed, more than 9,000 above the previous week and the largest number since the last week of February, when Frigocerro was working at full capacity on sheep meat production for the Israeli market. Industry sources confirmed that the Durazno plant is once again active for the Israeli market.

For cattle analyst Ignacio Iriarte, indirect indicators of the cattle cycle show that, although much more moderate than in previous years, stock liquidation has not yet ended in Argentina.

Regarding Argentine exporters, Ignacio Iriarte considered that in recent months they had “a dream gift: a significant increase in international beef prices, of no less than 20%, along with a 14% rise in the nominal exchange rate in July, and we don’t know if it will continue to climb. And let’s add the 1.5-point reduction in beef export taxes.”

Export cattle prices recorded a new increase. For British crossbreeds, the rise was about Ar$ 100 per kilo carcass weight, bringing the best beef-quality animals to around Ar$ 5,700–5,900 per kilo carcass weight, while those with indicus cross to Ar$ 5,400–5,600.

In a market with limited supply and rainfall across much of Paraguay this Tuesday, cattle prices strengthened again. Import market sources told WBR that prices were at US$ 4.30 per kg carcass weight for standard males and US$ 4.00 per kg for fat cows.

The sharp ups and downs in futures prices made it difficult for both buyers and sellers to find the market in the fed cattle deals last week, The AG Center reported. The sales of fed cattle in the north were mostly steady to cases of $2 higher. Live prices were $242-$246. Dressed prices ranged from $380-$386. In the south trade was at a standstill with packers bidding $235 and cattle owners asking higher prices.

Compared to the prior market test, beef import prices in the USA were moderately to sharply higher, the USDA informed.

The European Commission (EC) released a new guidance document regarding European Union Deforestation Regulation (EUDR) in which it confirms the timetable and clarifies what does the term “negligible risk” means.

Australian beef exports to South Korea are on track to trigger the country’s safeguard tariff earlier than usual in 2025, potentially by mid-to-late September, reported Beef Central. Once triggered, exports for the rest of the year will face a 24% tariff, up from the current in-quota rate of 8%.

Australia exported 64,632 head of cattle in July, bringing the total for the first seven months of the year to 436,230.

Trade conditions have been described as consistent and stable by exporters Beef Central has spoken with in recent weeks, helped in part by the first-year Prabowo Government’s strong focus on building food security in Indonesia, and the important role it sees live cattle exports from Australia playing in helping to bolster that aim.

Imported beef stocks continued to rise in July. According to the index compiled monthly by OIG+X, the July figure exceeded 85%, taking 100% as the stock volume recorded in December 2023.

In the second half of 2025, the Chinese meat market is expected to remain in a phase of adjustment, said the OIG+X in its monthly report. It added that “consumption recovery is likely to be slow, supply-demand imbalances unresolved, and the import environment increasingly complex”.

As expected, considering the growth of shipments to China in June from the main suppliers, imports in July reached 250 thousand tons, according to preliminary GACC figures reported by OIG+X.

China imported 26,259 tons of sheep meat in July for US$ 104.082 million, according to GACC data released by OIG+X. The volume fell 11.8% compared to July 2024, but the value increased 18.5% due to a significant rise in the import price per ton.

Wholesale beef prices in China have been on an upward trend since early April. According to MARA data released by OIG+X, the average price of beef in the wholesale market in the week to August 16 reached nearly US$ 9 per kilo, an increase of US$ 1 (12.5%) since early April, when it was around US$ 8 per kilo.