Export prices to China near three-year highs

The shift in the Chinese market was abrupt. “Until recently it was completely dead, and with the safeguard measure everything turned around,” an operator told World Beef Report (WBR). The reaction was immediate, and importers are now showing strong urgency to secure volumes, driven by “fears” that they could run out of beef in the second half of the year, a trader said, referring to the likelihood that Brazilian and Australian quotas could be filled in the first half.