With a market that had already been showing signs of caution over the past two to three weeks and lower dynamism, the proximity of the upcoming Sial Shanghai (May 18–20) is beginning to weigh on commercial activity, with several players preferring face-to-face contact at the fair to close new shipments. “With little urgency to buy, several importers are already waiting for the fair,” a trader said.

A Paraguayan exporter stated that demand from Taiwanese importers remains active, with “attractive prices.”

Even with a very tight supply scenario from the region, chilled beef values in Europe are moving away from the highs reached in recent weeks. Import market sources reported references for non-Hilton deals from Argentina around US$/t 17,000–17,500, and US$ 16,000 FOB for Uruguay, values that under quota equate to about US$/t 23,000 and US$ 21,500, respectively. These values are about US$/t 1,000 below last week.

This Thursday, April 30, is the deadline for Mercosur countries to agree on the distribution of the different quotas included in the FTA with the European Union. Everything indicates that no consensus will be reached, so from May 1 the “first come, first served” criterion will apply.

In recent days, new deals have been confirmed for a new period of kosher slaughter from Mercosur.

Import and export market sources reported references for regular kosher from Paraguay in a range of US$/t 8,900–9,000 FOB for the forequarter (+US$/t 1,500 compared to the previous period). Brazil references are the same as for Paraguay.

A regional trader described a US market that remains calm, with lower commercial activity and a sense of increased supply, especially of South American beef.

“The market is very quiet. There is no excess beef, but there is a lot of accumulated supply from the beginning of the year,” he summarized in conversation with WBR. He added that the imported segment is well supplied, limiting short-term buying interest.

Among factors to monitor in the US, a trader highlighted the impact of rising fuel prices on consumption. While he does not expect a collapse, there could be shifts in habits: less eating out and greater use of beef for more economical preparations.

A Paraguayan processor warned that supply issues are causing delays in the chain and limiting the ability to close new deals to Chile.

A source from the Uruguayan industry noted that Brazil is active in seeking higher-value cuts such as rump cap and tri-tip, although with caution when validating prices amid a weak domestic market.

A Uruguayan exporter noted that offal continues to find possibilities in different markets, with relatively stable prices. Livers are traded at around US$/t 2,000 FOB to Russia, while tongue remains mainly destined for Japan, as the Russian market does not pay more than US$/t 4,350 FOB.

After four consecutive weeks of increases, the average value of slaughter cattle in Mercosur countries moved lower. The WBR Mercosur Steer Index fell 6 cents to US$ 5.01 per kg carcass weight.

The average export value of beef has maintained its strong upward trend so far in April. The increase is 11.5% since the first week of March and 7.2% from the low in mid-November last year, a recovery of more than US$/t 900 in five months.

Beef prices remain firm in the Brazilian domestic market, driven by limited supply of finished cattle and sustained external demand, according to Cepea.

The Brazilian government authorized new exports of meat and agricultural products to the Philippines, Cuba and South Korea, expanding access to key markets and diversifying its export portfolio.

JBJ Agropecuária, controlled by José Batista Júnior, has agreed to acquire Fazenda Conforto, one of Brazil’s largest feedlot operations, located in Nova Crixás (Goiás). The deal has been submitted to Cade and still depends on regulatory approval.

Cattle for slaughter prices declined over the past week in Brazil’s main livestock regions, ending an upward trend that had lasted five weeks since mid-March.

The average value of the boi gordo in the main cattle markets fell by R$ 3.7 to R$/@ 346, according to state references from consulting firm Scot, excluding the Funrural tax and with 30-day payment terms.

In an interview broadcast on Radio Oriental Agropecuaria, integration and trade specialist Gonzalo Oleggini warned that Mercosur will reach May 1 —the date the agreement with the European Union enters into force— without having defined the internal allocation of the 99,000-ton beef quota.

Expectations of relatively tight supply and high beef prices have led the Uruguayan Meat Distributors and Importers Association (Adicu) to propose to the National Meat Institute (INAC) the possibility of selling a “popular” cut without VAT during the winter months, Jorge López, head of Abasto Santa Clara and president of Adicu, told WBR.

May 1 is the peak day for rib plate consumption in Uruguay. However, this year, given the very low production, there will be a significant shortage of this cut.

“Uruguay needs you,” President Yamandú Orsi told Marcos Molina, head of MBRF, during the inauguration ceremony of the expansion of the Tacuarembó processing plant.

Nearly 10 months later, the Ministry of Livestock, Agriculture and Fisheries released the final figures for the cattle and sheep herd as of June 30 last year, confirming an annual increase of 133,000 head compared to the final data a year earlier, reaching 11.583 million cattle.

Although there is still some disparity in the purchase prices proposed by different processors, there has been some alignment in recent days, as those offering lower values moved closer to the rest.

Cattle slaughter has been gradually increasing from the low recorded during Easter week, but it remains clearly below last year’s levels.

In the week ending April 25, INAC reported that 31,252 head of cattle were slaughtered, 2,307 more (8%) than the previous week, marking the third consecutive weekly increase. However, this was 21,000 head fewer than in the same period of 2025, when slaughter exceeded 52,000 head.

The supply of sheep for slaughter remains minimal and is not expected to change in the coming weeks.

The Argentine government and the Argentine Beef Promotion Institute (IPCVA) are carrying out a trade mission in the United States called “Argentine Beef Week.”

The objective is to consolidate and expand the presence of Argentine beef in that market, in a context where Donald Trump increased fivefold the duty-free quota granted to Argentina, raising it from 20,000 to 100,000 tons for 2026.

Torrential rains that hit several regions of the country over several days caused significant damage and disruptions in livestock areas. In the region known as the “bajos submeridionales,” which covers part of northern Santa Fe, northeastern Santiago del Estero and southern Chaco, it is estimated that close to 1 million hectares, with around 700,000 head of cattle, were flooded, hindering both the movement of cattle to other fields and their shipment to slaughter.

Prices of British-breed cross steers, of higher meat quality, remained in the range of Ar$ 7,900 to 8,200 per kg carcass, as did those for zebu-cross animals, which stayed between Ar$ 7,800 and 8,000.

Between May 18 and 26, Paraguay will receive a sanitary audit from Mexico covering 10 meat plants, in a step considered key to advancing approval for beef exports to the Mexican market, according to Valor Agro.

On top of an already low slaughter level so far in April, logistical complications emerged in accessing and loading cattle due to rainfall across several regions during the past week.

US red meat production increased 2% year-on-year in March, reaching 2.04 million tons, driven by strong performance in the pork sector, which offset lower beef output amid tighter cattle supplies.

Fed cattle trade in the US concluded for the week with limited activity, including a few deals in Kansas at US$/cwt 247 live on Friday. Packers showed interest in adding inventory but faced resistance at lower price levels. Most transactions in Kansas and Texas were around US$/cwt 246, while in the north cattle traded at US$/cwt 246 live and US$/cwt 386 dressed, both down US$/cwt 2 from the previous week, according to The AG Center.

Compared to last market test, US beef import prices were mostly moderately lower, with some instances sharply lower.

Global meat production reached 387 million tons in 2025 (+2.5% year-on-year), driven by high slaughter levels, lower feed costs and firm demand, according to the FAO. Growth was led by poultry (+3.7%), followed by pork (+2.7%), while beef showed only marginal growth (+0.7%) and sheep meat declined by 0.8%.

Cow prices in Australia came under renewed pressure last week as record volumes of cattle continued to flow through saleyards in northern New South Wales, according to Beef Central.

Exporters granted relatively limited beef import quotas by China (Australia and Brazil) are advancing sales to that destination at a much faster pace than others, which have quota volumes that allow them to operate without urgency.

In each segment of China’s beef and beef offal imports, one country stands out.

Mercosur countries account for a large share of China’s beef imports, with 81% of the total.

Marcelo Secco, headperson of MBRF in Uruguay

During the inauguration of the Tacuarembó plant expansion, Marcelo Secco highlighted Uruguay’s growth potential, the need to increase livestock production and the role of investment in adding value and strengthening international positioning.