“If you want to sell to China, you can — but you have to adapt to their prices,” a Uruguayan exporter told World Beef Report (WBR), noting that the destination has “lost relative weight” for round and some forequarter cuts, to the benefit of other “hotter” markets such as the U.S. and Europe.

As anticipated during Anuga 2025, new kosher deals for Israel — after the Jewish holiday break — are being closed at higher prices. Market sources confirmed that production will resume next week in at least four Paraguayan plants, with frozen forequarters at US$ 7,500 FOB, about US$ 500 (+7%) above previous levels. The same reference applies to Brazil.

The rump & loin Hilton segment in Europe showed little change over the week. Export and import operators reported business between US$ 18,500–19,000 FOB for Argentine product, with some plants achieving US$ 19,100. In Uruguay, the reference was around US$ 17,500 FOB. A broker warned of the impact of ongoing port disruptions in Montevideo: “It’s the fifth week the vessel hasn’t called,” he lamented.

Commercial discussions in the U.S. last week centered on speculation about President Trump’s promised “magic” to lower domestic beef prices — possibly through improved access for Argentina, a minor supplier in volume terms (see North America section).

Chile’s market hasn’t lost relevance, but it’s adapting to new pricing and trading conditions ahead of the year-end holidays. Paraguay is quoting US$ 7,200–7,500 CIF for the 19-cut set, while Brazil ranges between US$ 6,300–6,500 CIF.

A trader reported Brazilian sales to Egypt for forequarters at US$ 4,800 CFR, and robbed forequarters for other MENA destinations at US$ 4,400–4,450 CFR.

A regional trader reported recent sales from Uruguay to the Philippines for beef hearts at US$ 2,600 CFR and beef fat at US$ 1,600 CFR.

The average value of slaughter steers in the region fell for the third consecutive week, mainly impacted by the sharp volatility of Argentina’s exchange rate, now less than a week away from next Sunday’s midterm elections.

Brazilian beef exporters accelerated shipments during the third week of October.

According to data from the Foreign Trade Secretariat (Secex), in the first three weeks of the month, 201,347 tons were exported at an average value of US$ 5,506 per ton (shipment weight). Clearing out the data for the third week alone, the volume reached 89,427 tons, averaging 17,885 tons per day, the highest daily pace since the third week of April.

Consulting firm StoneX projects steady prices for the arroba of finished cattle in the last quarter of the year, driven by tighter cattle supply and a recovery in domestic demand. The report highlights that the rebound of the chicken market following the avian influenza crisis could also lift beef prices.

Brazil’s beef industry achieved a historic performance at Anuga 2025, the world’s leading food and beverage fair held in Cologne, Germany. The participation of the Brazilian Beef Exporters Association (Abiec), in partnership with ApexBrasil, generated a business potential of nearly US$ 8 billion —the highest figure ever recorded by the entity at the event.

Slaughter cattle prices in Brazil rose for the third straight week, although moderately.

A smaller supply of animals from feedlots, together with a slowdown in the flow of breeding females to slaughter, has combined with a domestic market that continues to show good demand throughout October and very strong export activity.

INAC reported that in the week ending October 11, the purchase price of steers exceeded the export price of beef, a situation caused by the relative shortage of finished cattle, which is pushing packers to compete aggressively for livestock — but one that is not sustainable in the medium term.

Members of the maritime transport sector told WBR yesterday evening that there were expectations the conflict at the TCP container terminal could be resolved around midnight. The terminal’s workers’ union was reportedly holding an assembly to decide on the return to work, after operations were suspended for the second time since last Friday, causing severe disruptions to foreign trade.

China has returned containers of Uruguayan beef after detecting residues of fluazuron, an active ingredient used against cattle ticks. The news was confirmed by Agriculture Minister Alfredo Fratti, who said, “Some containers were returned, others are at risk. It’s a big problem.”

According to the September–October RING survey by the Instituto Plan Agropecuario (IPA), natural pastures are at their highest levels in five years. About 57% of producers reported pasture heights above 5 cm, exceeding the strong result of 54% from the same time last year.

The value generated from the sale of all products derived from a Type Steer 2.0 after industrial processing posted a slight monthly increase of 0.1% in September, reaching US$ 1,788 per head, according to data released by INAC.

Lower demand and slightly higher supply have allowed packers to reduce cattle purchase prices for the second consecutive week. The plants that usually pay top prices are out of the market, focused instead on feedlot cattle for the next 481 quota window. Meanwhile, those one step below in quality requirements are buying at lower quotations.

Cattle slaughter increased again, marking the highest volume since the week ending August 16, nine weeks ago, when the previous 481 grainfed quota production window closed.

INAC reported that 44,156 head were processed in the week ending October 18, over 3,000 more (+8%) than the previous week and just 225 fewer than the same week last year.

As usually happens at this time of year, more sheep are becoming available, allowing some of the plants that process the species to extend their slaughter schedules. Beyond that, the market remains firm, with price references about 5 cents higher than last week. Lambs are trading at US$ 5.50–5.55 por kilo carcass weight, while mutton are priced at US$ 4.70–4.75.

Argentina’s chilled and frozen beef exports totaled 71,327 tons (product weight) in September, worth US$ 410.9 million. This represented a 1.7% decrease compared to August and a 1.9% drop year-on-year. However, these three months — along with August 2024 — are the only four instances since at least 2010 when the country surpassed 70,000 tons in monthly exports.

From January through September, Argentina exported 521,620 tons of beef worth about US$ 2.765 billion. This represents a 9% decline in volume compared to the same period of 2024 but a 24.6% increase in value.

Shipments to China in September totaled roughly 17,700 tons of bone-in beef and beef bones (US$ 38.1 million) and 31,600 tons of boneless beef (US$ 159.3 million), accounting for 69.1% of total exports that month.

The EU (including the UK and EFTA), Israel, and the United States all recorded their highest volumes of Argentine beef purchases since at least 2019.

The 44,833 tons imported by the EU, UK, and EFTA were 15% higher than the same period last year — which were the highest in six years.

Export steer prices increased across all categories. Crossbred British steers, of superior meat quality, rose to AR$ 6,200–6,300 per kilo carcass weight, while zebu cross steers moved to AR$ 6,000–6,100.

Ramiro Maluff, president of the Paraguayan Association of Meat Producers and Exporters (Appec), warned that the current price relationship between replacement cattle and finished cattle is raising caution in the market.

The Paraguayan market held steady over the past week, with fat steers for slaughter around US$ 4.40 per kilo carcass weight and cows at US$ 4.00 per kilo. Bookings remain uneven: one of the country’s largest industrial groups is scheduling deliveries for November 6, while other plants are offering shorter waiting periods.

U.S. President Donald Trump announced that his administration has reached an agreement to reduce beef prices for consumers, during an event held Thursday in the Oval Office.

Despite the Trump administration’s stated goal of lowering domestic beef prices — which remain at historically high levels — the announcement of achieving this through additional purchases of Argentine beef will have an insignificant impact on both consumer prices and the broader production chain.

Economist Andrew Griffith of the UT Beef & Forage Center noted that the US beef industry is operating with the smallest cattle herd since 1951, but compensating for tighter supplies through steadily heavier slaughter weights.

Despite higher retail beef prices, American consumers continue to show a strong willingness to work more minutes to purchase a pound of ground beef or USDA Choice beef, according to analysis by RaboResearch.

Bank of America (BofA) lowered its EBITDA estimate for JBS by 3%, to US$ 6.1 billion, due to narrower margins at its U.S. subsidiary Pilgrim’s Pride (PPC) and foreign exchange adjustments. The target price for JBS shares was cut from US$ 21 to US$ 20, though the bank maintained its “buy” rating, highlighting a potential upside of 56%.

Last week’s larger slaughter volume was received positively by the retailers whose purchases caused box prices to rise last Friday, The AG Center report said.

Compared to the prior market test, beef import prices in the US were generally steady, instances slightly higher.

The United Kingdom opened a duty-free quota for U.S. beef in June, with an estimated volume of 8,500 tons in 2025, according to the U.S. Meat Export Federation (USMEF). The newly elected vice president of USMEF and Agri Beef representative, Jay Theiler, recently visited the country alongside Idaho Governor Brad Little on a trade mission aimed at expanding opportunities from the new free trade agreement announced by President Donald Trump.

According to the Organization of Consumers and Users (OCU), beef prices in Spain have surged 12% over the past 12 months, reaching their highest levels in a decade. This rise — far above the overall food inflation rate of nearly 6% in September — is causing growing concern among both consumers and the livestock industry.

The French government has decided to suspend live cattle exports for 15 days, until November 4, and to impose strict restrictions on animal movements, with reinforced controls and threats of penalties for violators, in an effort to contain the spread of lumpy skin disease, reported EFE.

A combination of large import volumes and a domestic market constrained by weak final demand —according to OIG+X’s market analysis— continues to drive growth in China’s imported beef inventories.

China imported a record 316,000 tons of beef in September, according to data from the General Administration of Customs of China (GACC). Despite months of reports about weak final demand and sluggish domestic beef sales, imports continue at full pace, with strong foreign purchasing activity.

With a sharp decline in U.S. exports, Australia has become the leading supplier of chilled beef to the Chinese market. In September, China imported 7,205 tons of chilled beef, of which 6,489 tons (90%) came from Australia.

In September, beef exporters shipped just over 300,000 tons to China, of which 251,000 tons departed from Mercosur ports. This large shipment volume ensures that October will again see high levels of Chinese beef imports.

China's economy grew 4.8% in the third quarter, slightly above estimates, laying a "solid foundation" for achieving the full-year expansion goal of around 5%, informed Bloomberg.

Far from beginning to reverse the suspension of most U.S. beef processing plants that has been in place since the first quarter of the year, China’s General Administration of Customs (GACC) continues to remove export approvals.