The effervescence that had characterized the Chinese market —peaking during the latest edition of Gulfood— eased over the past week as several players stepped back due to the proximity of the Spring Festival holidays. Prices appear to have reached a ceiling during the last week.

A regional trader warned that, beyond the political announcement, the new 80-thousand-ton quota with tariff preference for Argentina opens a complex scenario from an operational standpoint.

A Paraguayan exporter told WBR that Argentina’s quota somewhat reduced commercial dynamism with the United States over the past week. Even so, prior to the announcement he confirmed deals for 90 CL blocks at US$/t 6,000 CFR outside quota and 95 CL at US$/t 6,250.

The sustained appreciation of Hilton rump & loin cuts at the start of 2026 pushed prices for the highest-value set of European chilled cuts to an all-time high, surpassing the previous record from more than a decade ago (March 2014), in nominal terms.

A Paraguayan exporter said the Chilean market continues to operate steadily, without major swings.

The combination of strong currencies and rising slaughter cattle prices drove a solid increase in the region’s average cattle value, pushing it to the highest level on record. The WBR Mercosur Steer Index rose 13 cents over the week to US$ 4.64 per kilo carcass weight, surpassing the previous all-time high of US$ 4.58 recorded in early April 2022.

The first week of February showed smooth Brazilian beef exports and firm average values that are expected to continue rising in the coming weeks, as deals closed since the beginning of the year begin to cross the border, following the announcement of the Chinese safeguard that curtailed Brazil’s sales opportunities to its main destination.

Brazilian beef exports continue to post year-on-year growth, but shipments to international markets declined by 73 thousand tons in January compared with December.

Brazil’s beef shipments to China in January totaled 119,876 tons, according to Secex data. Although this represents a year-on-year increase of 29 thousand tons (+31%), volumes were down 30 thousand tons compared with December, and it was also the lowest monthly volume since last May.

Contrary to what occurred in most destinations, which increased their purchases in January 2026 compared with the first month of the previous year, Brazilian beef exports to European Union (EU) member countries fell 13% year on year.

The president of Abiec, Roberto Perosa, confirmed to CNN Brasil that he will be part of the presidential mission that will visit India and South Korea starting on February 17, with the aim of advancing the opening of new markets. South Korea, with a population of 52 million, is seen as a strategic destination for Brazilian beef. “We export to more than 177 countries. Almost every country in the world consumes Brazilian beef,” Perosa said.

The Brazilian multinational MBRF—resulting from the merger between Marfrig and BRF—closed 2025 with 100% of its beef supply chain traced, including both direct and indirect suppliers, across all biomes in the country.

JBS announced an investment of US$ 150 million to expand its operations in the Middle East through the acquisition of 80% of Oman Food Capital (OFC), a new holding company created in partnership with the Oman Investment Authority (OIA), which will retain the remaining 20%. The transaction marks a key step in the company’s internationalization strategy in high halal-consumption markets.

Supported by tight supply and strong demand from both the domestic market and exports, the average value of the fat male in Brazil’s main cattle-producing regions jumped this week.

The Uruguayan government will formally request accession to the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade agreement, which includes 15 Asia-Pacific countries.

Prices for slaughter cattle —as well as across the entire livestock complex, including replacement and breeding stock— continue to show a strong upward trend that has prevailed throughout the year. Market conditions are unchanged from last week: a very limited supply of grassfed finished cattle and strong international demand.

The production window for the 481 quota is beginning to be reflected more clearly in slaughter activity. INAC reported that in the week ending February 7, a total of 51,957 cattle entered slaughter plants, 2,509 head more (5%) than the revised figure for the previous week, although activity remains below last year’s level. This was the highest weekly total in 11 weeks, since mid-November.

The sheepmeat market shows the same characteristics as beef. Supply is minimal and the industry is displaying buying interest, leading prices to continue adjusting upward.

Almost in parallel with the framework agreement on trade and investment signed by the United States and Argentina covering nearly 1,700 products across various sectors, President Donald Trump issued an executive order establishing an 80,000-ton tariff-rate quota for beef imports and allocating it to Argentina.

While final figures are still pending, preliminary official data indicate that 1.014 million cattle were slaughtered in January, nearly 12% less year on year and the lowest monthly figure since January 2022.

Amid tight supply and favorable demand prospects from North America and Europe, export steer prices climbed another step, by around Ar$ 100 per kilo on the hook.

The cattle market in Paraguay remains firm, with very limited supply and slaughterhouse bookings mostly running at around one week. According to an intermediary, prices discussed a few days ago around US$/kg 4.50 “do not reflect reality,” as current business is concentrated between US$/kg 4.60 and US$/kg 4.65 for common males, with spot deals reaching as high as US$/kg 4.80 depending on load and conditions.

The US beef cattle sector enters 2026 with firm fundamentals and constrained supply. According to CattleFax’s latest Outlook Seminar at CattleCon 2026, the national beef cow herd declined by 280,000 head in 2025, while feeder cattle availability remains limited.

Winter weather and fewer placements are accelerating the squeeze on feedlot supplies, even as beef demand continues to support high slaughter levels, according to The AG Center.

Compared to the last market test, US beef import prices were slightly to moderately higher. Trading was moderate with more activity for out-front sales.

Miratorg, one of Russia’s leading agrifood companies, exported a total of 210,000 tons of meat and meat products in 2025, increasing its foreign sales by 5%. According to its president, Viktor Linnik, in statements reported by Interfax, this growth could reach 20% in 2026.

The FAO Food Price Index averaged 123.9 points in January 2026, down 0.5 points (0.4%) from December.

An internal circular distributed by AMIC among its members confirmed that China officially notified in recent days that, as of February 4, Australia had already used 28% of its annual quota to China. This percentage does not reflect the pace of recent shipments but rather the stock accumulated at the end of 2025, which was released in January at Chinese ports.

According to the latest survey by Meat & Livestock Australia (MLA), 50% of Australian beef producers intend to grow their herds in 2026, pointing to a projected national herd increase of around 3%.

The head of Minerva Foods, Fernando Galletti de Queiroz, took part last week in the third edition of Agro en Punta, an event held at the Punta del Este Convention Center, where he delivered a presentation on the current state of the beef market and on South America’s potential and challenges as the world’s leading supplier. In an interview with WBR, Queiroz discussed the company’s situation in Uruguay after the Competition Defense Commission blocked the acquisition of three Marfrig slaughter plants, his view on Uruguay’s positioning in the international market, as well as ongoing corporate consolidation on both the supply and demand sides.