This Tuesday, February 17, marked the start of the Chinese New Year (also known as the Spring Festival). The date begins year 4724 in the lunar calendar and is represented by the Fire Horse. The holiday period usually lasts around 15 days, ending with the Lantern Festival.

Prices for the Hilton chilled rump & loin set strengthened again last week after reaching nominal record levels not seen in more than a decade. Import market sources reported Argentine product in a range of US$/t 20,200–20,500 FOB during the week.

During the past week, trade with the US gained momentum in the region. A trader reported deals from Uruguay for 90 CL blocks at US$/t 6,000 CFR. The source noted that in a couple of weeks Argentina will ship 20 thousand tons of beef for manufacturing use, a factor that will “put pressure” on the market.

Regarding the new 80 thousand-ton annual quota (20 thousand per quarter) with tariff preference for Argentina, a source told WBR that the main issue is operational, despite “adjustments” announced last week. The first tranche, expiring March 31, is practically lost due to logistics timing.

A new edition of the Supermarkets Trade Show began Wednesday, February 18 (see Uruguay section).

The Chilean market is moving through February at a slower pace, especially in Santiago, where commercial activity slows due to seasonal tourism shifts toward the central coast and the south of the country, an importer told WBR.

Cattle slaughter in Mercosur countries began the year on a downward trend, following the strong growth recorded throughout 2025.

Slaughter cattle prices rose again in all four countries of the region, reaching a second consecutive historical record. The WBR Mercosur Steer Index increased 9 cents during the week to US$ 4.73 per kilo carcass weight. Since the beginning of the year, the increase totals 46 cents, or 10.8%.

Cattle slaughter in Brazil reached 10.95 million head in the fourth quarter of 2025, representing a 13.1% increase compared to the same period in 2024, but a 2.9% decline from the third quarter of the year, according to the Brazilian Institute of Geography and Statistics (IBGE).

The share of exports as a destination for Brazilian beef production has grown steadily in recent years. In 2025, the sharp increase in output and strong international demand meant that nearly 4 out of every 10 kilos produced were shipped to foreign markets (39%), up from 35% in 2024 and 32% in 2023.

Total cattle slaughter in the state of Mato Grosso reached 641.04 thousand head in January 2026, a record for the month and a 5.45% increase compared to December, according to INDEA data reported by the Mato Grosso Institute of Agricultural Economics (Imea).

Female cattle slaughter fell 13% year-on-year in January, contributing to shorter slaughter schedules and supporting finished male prices in the first half of February. The data comes from Datagro, based on preliminary figures from the Ministry of Agriculture and Livestock (Mapa).

Brazil reached 9.25 million cattle on feed in 2025, a 16% increase from the previous year, according to the 2025 Feedlot Census released by DSM-Firmenich.

President Luiz Inácio Lula da Silva’s upcoming Asian tour will include discussions on a potential agreement to allow Brazilian beef exports to South Korea. The president will begin his trip in India, where he is scheduled to meet President Droupadi Murmu and Prime Minister Narendra Modi. He will then travel to Seoul, where he will be received by South Korean President Lee Jae Myung.

The Brazilian government is evaluating the possibility of allocating the beef export quota to China among processing plants for 2026. The proposal will be discussed at Gecex and was put forward by the Ministry of Agriculture with the aim of avoiding a concentration of shipments within the tariff-free volume.

The finished male ended last week higher for the third consecutive week. The weekly increase in the weighted average across the main cattle-producing states was R$/@ 5.8, accumulating a recovery of R$/@ 18 (6%) over the past three weeks.

The relatively limited availability of pasture-finished cattle reaching slaughter weight, strong international demand and the favorable margins for grain finishing led to a sharp increase in the slaughter of animals from certified feedlots in 2025.

Beef imports began 2026 at significantly higher levels than the previous year. In January alone, 3,607 tons of chilled beef entered the country at an average value of US$/t 6,060.

Bank financing to the agricultural sector closed 2025 at historic levels, with low overdue credits and declining interest rates. Livestock production and the meatpacking industry led the growth in banking credits, amid higher activity and more favorable financial conditions.

The value generated from the sale of all products from a Type Steer 2.0 after industrial processing increased 1.8% in January to US$ 1,868, just US$ 2 below the record set in May 2022. According to the INAC report, January saw an “increase in the value of the export basket, carcass sales to the domestic market, and stability in fresh hide prices, as well as in offal and by-products.”

Between February 18 and 20, INAC will participate in the Supermarkets Trade Show in Tokyo, one of the most relevant events in Japan and Asia for the supermarket and food and beverage retail sector. The fair is organized by the National Supermarket Association of Japan together with Congres Inc., and its 2025 edition gathered more than 77,300 visitors and over 3,600 exhibitors from 15 countries and regions, according to INAC.

The slaughter of dairy breed cows declined 6% year on year in 2025 to 61,338 head, according to data from the National Milk Institute (Inale).

Uruguay’s Parliament began debating the trade agreement between Mercosur and the European Union this Tuesday through a special bicameral commission, in a move aimed at positioning Uruguay as the first country in the bloc to ratify it.

The January–February survey conducted by the National Livestock Information Network (RING) of the Plan Agropecuario (IPA) shows generally good forage conditions at the end of summer, but with significant heterogeneity due to uneven rainfall across different regions of the country. The situation in the center, south and east is “substantially more complex than in the rest,” the report stated.

Slaughter cattle prices broke through the highs reached in the first half of 2022 this week, meaning that in nominal terms they are now at the highest levels in history.

After two consecutive weeks above 50 thousand head, cattle slaughter declined last week and fell below that threshold. INAC reported that in the week ended February 14, 48,029 head were processed, nearly 4 thousand fewer than the previous week (-8%) and 6% below the same week last year. It was the sixth consecutive week in which slaughter declined year-on-year.

The sheep meat market remains very firm, with rising prices driven by the same factors as in cattle: limited supply and strong demand.

According to industry sources, a meeting is being arranged between Argentina’s Undersecretariat of Agrifood Markets and the sanitary authority SENASA with their US counterparts, to review the tariff lines included in the new 80,000-ton beef quota granted by President Trump to Argentina.

Final figures from the Secretariat of Agriculture confirm that 1.014 million cattle were slaughtered in January, 10.4% less than the previous month, 11.8% less than in January 2025 and the lowest level since January 2022.

Data by category show that 71,122 steers were slaughtered, 4.4% fewer than the previous month and 25% below January 2025, as well as the lowest figure since at least 2020 (when category definitions were modified).

Once again, limited supply and strong export prospects drove higher prices for export cattle destined for slaughter. Steer values rose another Ar$ 100 per kilo carcass weight, with the best British-cross types moving into a range of Ar$ 8,100 to 8,350 per kilo, while zebu-cross animals climbed to Ar$ 8,000 to 8,200.

The Minister of Agriculture and Livestock (MAG) confirmed that Paraguay will continue vaccinating against foot-and-mouth disease while technical discussions over the future of the sanitary program continue. Carlos Giménez stated that the current scheme will remain in place in 2026 and that full vaccination will also be carried out in 2027, bringing reassurance to the productive sector.

Paraguay’s export meatpacking industry began 2026 with 43% utilization of installed slaughter capacity in January, according to the Slaughter Dashboard prepared by the Paraguayan Rural Association (ARP). In the first month of the year, 148,627 cattle were processed, a volume that represented a significantly lower level of industrial occupancy than the 59% average recorded in 2025.

As has been the trend in recent weeks, cattle prices continued to move upward over the past week.

Cargill Meat Solutions Corporation announced the permanent closure of its processing unit in Milwaukee, Wisconsin, a decision that will result in the elimination of approximately 221 jobs.

McDonald’s reported fourth-quarter results showing broad-based comparable sales growth across all segments, supported by higher traffic and a strong value positioning strategy. Global comparable sales increased 5.7%, led by a 6.8% gain in the US. International Operated Markets rose 5.2%, while International Developmental Licensed Markets advanced 4.5%.

The Office of the United States Trade Representative (USTR) announced the signing of an Agreement on Reciprocal Trade between the United States and Taiwan, delivering significant market access gains for US red meat.

In the northern US, cash cattle trade showed moderate gains last week. Live sales were reported at US$/cwt 245–246, up US$/cwt 1 to 2 from the previous week. Dressed trade ranged from US$/cwt 378 to 382, US$/cwt 1 to 4 higher. In the south, prices moved up to US$/cwt 246–249.

Compared to the last market test, imported beef prices in the US were firm to higher, with some instances reported as sharply higher. Trading activity remained slow overall, although there was increased movement in forward sales.

MEPs backed extra safeguards on Tuesday to prevent harm to Europe’s agriculture sector following trade liberalization with Mercosur countries, measure that was considered “unacceptable” by analysts in the South American block.

Turkey’s Ministry of Agriculture and Forestry (MinAF) published the 2026 Feeder Cattle Import Application and Evaluation Circular, authorizing the import of 500,000 male feeder cattle under a state-managed quota.

Australia recorded weekly cattle slaughter of 158,528 head for the week ending 6 February, the highest weekly throughput since 2019, according to NLRS data. The figure marked a 27% jump week-on-week and stood 13% above the same week last year.

After declining in the last two months of 2025, stocks of imported beef in cold storage facilities in China posted a slight rebound in January, according to the index compiled by OIG+X.

South Korea has reported an outbreak of foot and mouth disease (FMD) to the World Organization for Animal Health after nine months. The outbreak started on January 30, 2026, on a farm with 246 domestic cattle in Ganghwa County in the city of Incheon near the border with North Korea.