Next week will see the 2026 edition of SIAL Shanghai, an event that, as usual, will have exclusive coverage from World Beef Report (WBR). The trade fair will take place from May 18-20 at the Shanghai New International Expo Center (SNIEC) and is considered Asia’s leading food and beverage event, with more than 5,000 exhibitors and around 180,000 professionals.

The Hilton business has started to lose dynamism compared to other commercial alternatives, in a European market that remains active but with greater resistance to validating prices.

The Chilean market continues to show mixed signals, with some deals concluded from Brazil, while Paraguay faces strong supply restrictions.

If the US market had already been somewhat slower in recent weeks due to certain excess supply from different suppliers and calmer buying interest from some major importers, the announcement and immediate reversal by Donald Trump’s administration to reduce the 26.4% out-of-quota tariff on beef imports from all suppliers in order to ease domestic prices (see North America) “generated more noise” and “paralysis” in the market, according to a regional broker.

The Middle East and North Africa (MENA) market is showing some signs of increased commercial activity, with Brazil resuming a more aggressive stance to place volume, in a context that may be influenced by weaker Chinese demand. “There is a lot of offer from Brazil. They came back eager to sell,” commented a regional trader.

Cattle slaughter in April across Mercosur countries is estimated at 3.52 million head, about 320 thousand fewer than the previous month, a decline of 8.3%. The figures include export plants in Brazil and Paraguay, and approved plants in Argentina and Uruguay.

The average value of slaughter cattle remains firm with moderate increases across Mercosur. Price increases were recorded in Uruguay and Paraguay, while slight declines were seen in Brazil and Argentina.

Brazilian beef exports closed April on a dynamic note, both in terms of volume and average shipment value.

May began with an intense pace of beef exports, likely driven by exporters rushing to secure as much as possible of the reduced quota China granted Brazil for this year.

In an attempt to capture the largest possible share of the limited quota China granted Brazil for this year, exporters are accelerating sales to that destination.

Brazilian chilled beef exports to the European Union continue to grow strongly, likely reflecting the difficulties in accessing this product from Argentina and Uruguay, the traditional suppliers, due to tight supply and high prices.

Shortly after the trade flow began, Indonesia rapidly positioned itself as the second main destination for Brazilian beef offal with 8,431 tons, second only to Hong Kong, which received 17,239 tons.

Cattle slaughter in Mato Grosso, Brazil’s largest cattle-producing state, totaled 586.87 thousand head in April, a monthly decline of 6.39%. The decrease was observed in both males (-6.73%) and females (-6.07%), which totaled 281.58 thousand and 305.29 thousand head, respectively.

Minerva Foods started 2026 with an optimistic view of the global animal protein market, supported by a combination of tight supply, firm international demand, and greater commercial arbitrage capacity following the integration of the plants acquired from Marfrig. While presenting its first-quarter results, CEO Fernando Galletti de Queiroz said the company is entering the year “focused on opportunities” amid growing geopolitical and commercial complexity.

Brazilian beef exports could fall by nearly 10% in 2026 compared to last year because of the tariff restrictions imposed by China, estimated Abiec president Roberto Perosa.

The acquisition of Fazenda Conforto by JBJ Agropecuária will face a more extensive review in Brazil after Cade rejected the request for a summary proceeding aimed at speeding up approval of the transaction, Globo Rural reported.

Average profitability per feedlot animal in Brazil reached R$ 869 per head in 2025, an increase of 28.9% compared to the R$ 674 recorded the previous year, according to a Cargill survey conducted among 217 feedlots representing about 27% of the country’s grainfed cattle.

The average beef carcass price in the Brazilian wholesale market reached the highest level of Cepea’s historical series, which began in 2001, in real terms during April.

The slaughter cattle market maintained its downward price trend, although declines were smaller than in the previous two weeks.

The average finished male price in the main cattle-producing regions fell by R$ 2.2 over the week to R$/@ 338, accumulating a decline of R$ 11.8 over the last three weeks. The references are based on state data from consultancy Scot, excluding the Funrural tax and with 30-day payment terms.

Frigorífico Sirsil recently formalized the incorporation of two new Brazilian shareholders into its industrial operation. According to WBR, negotiations are well advanced for 100% of the company’s shares —currently owned by Uruguayan businessman Néstor Larrosa— to change hands.

In the seventh edition of The industry responds, executives from MBRF, Las Piedras and Pando-San Jacinto expressed their concern about the sharp decline in activity, while maintaining a relatively optimistic outlook for the second half of the year.

The first export requests for lamb to the Israeli market have started to appear with prices that, as in the case of beef, are above those prevailing before the Passover break.

The conditions in the slaughter cattle market have not changed: a minimal supply of grassfed finished cattle, demand that remains interested in buying, and short slaughter schedules.

Driven by 481 quota shipments, cattle slaughter exceeded 40 thousand head and reached the highest weekly volume in 10 weeks, since the last week of February.

INAC reported that 41,710 cattle entered slaughter plants in the week ended May 9, almost 8 thousand more than the previous week, although 16 thousand fewer than in the same week last year, when the annual peak of more than 57 thousand head was recorded.

The sheepmeat market maintains an upward trend that has prevailed almost without interruption over the last two years.

Argentina’s cattle slaughter in April 2026 reached 960,871 head, marking a 6.7% decline from the previous month and a 15.3% drop compared to April 2025. Except for February this year, it was the lowest slaughter volume since at least 2019. The average daily slaughter stood at around 48,000 head per working day.

In the first four months of 2026, accumulated slaughter totaled 3.936 million head, 9.5% less than in the same period of 2025. The decline was mainly driven by lower slaughter of steers, young steers, heifers and cows, which fell 20%, 10%, 9% and 7%, respectively, compared to the first four months of last year.

Export cattle prices generally remained within the ranges seen in the previous week, although there was a decline of Ar$ 100 for the higher-quality steers.

Slaughter cattle prices extended their upward trend. One cattle buyer from a processing plant quoted list prices of US$ 4.75 per kg carcass weight for common males and US$ 4.35-4.40 per kg for finished cows, with shipments being scheduled for May 25.

Beef production fell 4.2% in the first quarter of 2026 to 48,255 tons, according to the Ferias y Mataderos bulletin from the National Statistics Institute (INE). Cattle slaughter totaled 180,548 head, down 6.6% year-on-year.

The Trump administration decided to delay a temporary suspenssion of the tariff-rate quotas for beef from all origins. The delay followed an outcry from cattle ranchers and some congressional Republicans, as increasing imports comes with political risks, including undercutting American farmers' business, Bloomberg said.

Mexico suspended pork imports from the United States after the US Department of Agriculture (USDA) confirmed the detection of antibodies for the pseudorabies virus, or Aujeszky’s disease, at a commercial operation located in Hardin County, Iowa.

While total US beef exports declined 11% year-on-year in March, beef variety meats stood out with a strong performance, posting a 24% increase in volume compared to the same month last year, according to the US Meat Export Federation. Muscle cut exports were 68,669 tons for US$ 709 million.

The US Department of Justice and USDA have intensified their antitrust investigation into the country’s largest beef packers, following last week’s joint announcement in Washington signaling tougher scrutiny of market concentration in the cattle and beef sectors.

Fed cattle prices continued to move higher last week, with sales in Texas and Kansas ranging from US$/cwt 256 to 258. In the north, most live transactions were reported between US$/cwt 258 and 260, while dressed sales ranged from US$/cwt 400 to 405, according to The AG Center.

Compared to the last market test, import prices were mostly slightly lower. Trading for Australia/New Zealand product remained slow, while South American trade ranged from slow to moderate.

The FAO Meat Price Index averaged 129.4 points in April, up 1.6 points (1.2%) from March and 7.8 points (6.4%) above the level recorded a year earlier. As a result, the index reached a new all-time high.

Middle Eastern markets remain open for Australian red meat, but the regional conflict has created major logistical challenges and higher freight, insurance and energy costs, rather than a structural collapse in demand.

China announced that, starting May 1, 2026, it will implement zero tariff treatment on all goods from the 53 African countries with which it maintains diplomatic relations. In addition, China will upgrade its "green channel" for African agricultural exports, further expanding market access for high-quality products including beef, poultry, and seafood, informed OIG+X.