According to an intermediary, significant volumes of South American beef — especially Brazilian — are currently circulating in the U.S., already cleared and including payment terms. Minerva and JBS are offering product imported at the end of 2025 or early 2026 at competitive values. “When you have Brazilian topside already nationalized, with terms and cheaper, there’s no reason to pay US$/t 200 or 300 more just because it says Argentina,” the trader explained.
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