The European chilled Hilton market for the rump & loin set is going through a transition week, with doubts about the sustainability of the prices reached after the elimination of the 20% tariff.
In Argentina, deals were closed last week around US$ 20,500/t FOB Hilton, although one importer pointed out that many buyers tried to validate prices closer to US$ 19,500/t, without initial success. “It is a transition week; we need to see whether the price holds or drops another step,” the source commented.
From Argentina, other sources described a somewhat weaker scenario, with low trading volumes. According to traders, most operations ranged between US$ 19,000 and 19,600/t FOB, with some isolated business near US$ 20,000, but in a “rather deflated” market. Another Argentine source took a more cautious view of the European business. According to the source, an importer recently counteroffered US$ 19,000/t FOB for Hilton and US$ 14,500 for non-Hilton.
Other market sources indicated that part of Argentina’s rump & loin is finding alternative options in Israel and in kosher programs to the United States.
In Uruguay, meanwhile, last week’s references ranged between US$ 18,500 and 19,500/t FOB, in a scenario of somewhat greater supply compared to previous weeks.
