“It’s not easy to close deals with China,” said a Brazilian trader, explaining that importers continue to pressure for lower prices. “We’ve decided to pull our offers and wait a bit. Cattle prices started to rise here, making business more complex,” the source told World Beef Report (WBR).

The U.S. market remains on alert for the possible officialization of an 80,000-ton preferential tariff quota for Argentina (up from the current 20,000 tons), under a trade deal both countries have been negotiating for several months.

A Paraguayan exporter told WBR of sales to the US at US$/t 6,800 FOB for round cuts outside quota. Another company reported deals for 95 CL with 2026 quota at US$/t 7,400, and 97 VL round cuts at US$/t 8,560.

Deals for Argentine Hilton rump & loin cuts were closed last week at slightly higher levels, ranging from US$/t 18,800 to 19,000 FOB, US$/t 20,000 for rib eye, and US$/t 15,000 for rump cap.

Chile’s beef market showed no significant price changes last week. Paraguay remained between US$/t 7,200 and US$/t 7,500 for the 19 cuts, while Brazil stayed at US$/t 6,300–6,500, maintaining its competitive edge.

The sheep meat market had a challenging week, with weak demand from both China and MENA countries, an operator said.

The average value of cattle for slaughter increased, boosted by stronger prices in Brazil and Argentina. The WBR Mercosur Steer Index rose 8 cents during the week to US$ 4.10 per kilo carcass weight.

Brazilian beef exports maintained a strong pace in the fourth week of October, and the month is on track to once again surpass all previous records — which would mark the third time in 2025.

Brazil and the United States will soon reach a “definitive solution” to their trade dispute, said Brazilian President Luiz Inácio Lula da Silva on Monday after his meeting with Donald Trump in Malaysia.

Lula met with Trump on Sunday in Kuala Lumpur, before the U.S. president departed for Japan on Monday — the second stop of his Asian tour, which will conclude in South Korea, where he is scheduled to meet with Chinese President Xi Jinping.

MBRF announced on Monday that its subsidiary BRF GmbH signed an investment agreement with the Halal Products Development Company (HPDC), controlled by the Saudi sovereign fund Public Investment Fund (PIF). The agreement expands the existing joint venture in the Middle East and North Africa (MENA) region and will lead to the creation of the new Sadia Halal structure once the deal is completed.

More than 30 Brazilian meat industry executives took part in a trade mission to Jakarta aimed at expanding access for Brazilian beef to the Indonesian market, the world’s largest Muslim-majority country. A list of 40 slaughterhouses is awaiting sanitary approval, which would more than double the 38 plants currently authorized.

XP Investimentos projects a strong third quarter for Minerva Foods, supported by robust volumes in both domestic and export markets, higher export prices—especially to China—and the consolidation of recently acquired assets. Following the report, Minerva’s shares rose 3.2% on Thursday, October 23.

The Datagro finished male indicator stood at R$/@310.72 in São Paulo in mid-October, remaining stable since the beginning of the month. However, Mato Grosso do Sul recorded the highest price in the country, at R$/@318.13, surpassing São Paulo’s level in recent weeks.

The average value of cattle for slaughter continues its upward trend, driven by a more moderate supply from feedlots as well as from female cattle, and by steady demand both from the domestic and export markets.

On Monday night, an agreement was finally reached between the port union (Supra) and Katoen Natie, the main shareholder of Terminal Cuenca del Plata (TCP) at the Port of Montevideo, putting an end to the month-long conflict that had caused significant delays in cargo loading and unloading.

According to the interim financial statement for the nine months ended June 30, the La Caballada (Cledinor) slaughterhouse, part of the MBRF group, recorded a sharp decline in net profit.

Rondatel S.A. (Frigorífico Rosario) carried out its first test slaughter on Wednesday, October 22, after being inactive since July 2023, more than two years ago. Yesterday, Tuesday 28, it made the second testing slaughter.

With part of the industry fully focused on producing beef for the European 481 quota, buyers active in the grassfed cattle market aligned their purchase prices significantly below last week’s levels. Deals are scarce, and there are no buyers offering higher prices.

With several plants focused in the production for the 481 quota—meat from grainfed animals— cattle slaughter jumped by nearly 5,500 head in the week, reaching its highest level in 13 weeks, since the last one of July. INAC reported that 49,626 cattle were processed in the week ending October 25. Year-on-year, slaughter increased by more than 6,500 head.

It seems that the upward trend in sheep prices should soon level off, especially given the difficulties observed in placing product in international markets. However, this week’s price references are again higher than last week’s, at US$ 5.60–5.65 for lambs and US$ 4.70–4.80 for mutton.

Defying almost all forecasts, Javier Milei’s government achieved a resounding victory in Argentina’s legislative elections last Sunday. Although just over 66% of the electorate voted — the lowest turnout since the return of democracy in 1983 — the result brought a sense of calm and optimism overall.

The temporary 0% export tax on beef is set to expire at the end of this week, when Decree 685/25 — which established the reduction on September 22 — ceases to be in force. As a result, beef from all categories except cows (already exempt) would once again be subject to a 5% export tax.

Export steers once again rose about Ar$ 100 per kilo carcass weight during the week. British-breed crossbred steers of higher meat quality are now valued between Ar$ 6,300 and 6,400 per kilo carcass weight, while zebu-cross steers moved to Ar$ 6,100–6,200 per kilo.

As of October 27, Paraguayan export plants were operating at 49% of their installed slaughter capacity —the lowest monthly rate so far this year— according to data from the Rural Association of Paraguay based on Senacsa figures. Cumulative slaughter for the month stood at just 139,461 head.

The Paraguayan group Concepción, known for its strong presence in the Mercosur beef market, is completing a US$ 360 million expansion to strengthen its pork operations in Paraguay and Brazil. As a result, the division could double its annual revenue to US$ 400 million, according to Renan Lima, CEO of BMG Foods, the Brazilian subsidiary of the group founded by Jair Lima.

Meat processors continued to pressure cattle prices lower. Two plants reported to WBR purchase prices of US$ 4.30 per kilo carcass weight for common steers and US$ 3.90 per kilo for fat cows—down 10 cents from the previous week, and at levels not seen since mid-August.

The new tariff quota that the United States would grant to Argentina is expected to reach 80,000 tons, according to Politico and Bloomberg, which cited sources close to the negotiations. This would quadruple the current quota of 20,000 tons, which currently pays a 10% tariff. Beef imported outside the quota is subject to an additional 26.4% duty.

Last week, President Donald Trump said he “loves” American farmers. However, those ranchers—most of whom supported him in the 2024 election—say they aren’t feeling that love right now. A White House official told CNN that the administration plans to increase Argentina’s beef quota to 80,000 tons, quadrupling the current low-tariff volume (20,000 tons) allowed into the United States.

Donald Trump’s administration is preparing a “large package” of incentives to boost U.S. livestock production, which has been hit by high beef prices and rising imports, Agriculture Secretary Brooke Rollins announced.

Julio Berdegué, Mexico’s Secretary of Agriculture, will travel to Washington this week to meet with Brooke Rollins, U.S. Secretary of Agriculture, to discuss reopening the U.S.–Mexico border to live cattle following the outbreak of the flesh‑eating screwworm parasite, Reuters said.

Processors finished last week with a larger-than-expected slaughter volume, which came amid rising boxed beef prices — at a time when futures were plummeting. The market action over the past week was confusing, and this week is expected to bring more clarity as several international trade matters may offer insight into future policy direction, according to The AG Center report.

Compared to the last market test, US beef import prices were moderately to sharply higher. Trading was slow to moderate.

The EU Deforestation Regulation (EUDR) faces another postponement —but only for smaller operators.

The European Commission has presented its work program for the coming year. According to the list released last week, the Brussels-based authority does not foresee a particularly high number of new legislative proposals in the agricultural, environmental and food sectors.

According to Meat & Livestock Australia (MLA), feedlot buying activity has surged in 2025, with nearly half of young cattle now being directed to grainfed programs. Feedlot occupancy remains high, with major states like New South Wales and Queensland reporting 95% and 93% capacity, respectively.

In the first three quarters of 2025, China's output of pork, beef, mutton and poultry was 73.12 million tons, up by 3.8% year on year, informed pig333 based in data from the National Bureau of Statistics of China.