Negotiations with China remain virtually at a standstill. A regional trader told World Beef Report (WBR) that, although some South American exporters lowered their offer prices by 7-8% from the previous week, Chinese importers continue to reject those levels. “The Chinese are still not buying. You tell them it's the best possible price, and they come back with even lower bids,” the source said.

Taiwan continues to be one of the most dynamic markets for Paraguayan beef.

The European Hilton rump & loin market remained stable, with limited trading activity and little change in price references.

Brazilian beef exports to the European Union remain active, although the market is increasingly concerned about the outlook after September 3, when the EU's new sanitary requirements for Brazilian beef come into force (see Brazil section).

The first transactions under the new Mercosur-European Union quota are beginning to take shape. An importer reported deals at US$ 12,000/t FOB from Uruguay and US$ 11,300/t FOB from Argentina for an 18-cut chilled grain-fed set. The quota is administered in quarterly windows on a first-come, first-served basis and is subject to a 7.5% tariff.

The US market continues to trade sluggishly, with little price movement amid slower turnover of some imported products.

The MENA market continues to provide an outlet for part of the Brazilian beef that is no longer destined for China, although competition remains intense and business is still highly selective.

Prices for Paraguayan beef in Chile weakened again over the past week. An exporter reported quotations of US$ 7,300/t CFR Santiago for the traditional 19-cut set. Another industry source said that, given current cattle prices in Paraguay, it is now very difficult to close deals for 20-cut programs.

The US$ 5/kg carcass weight average that prevailed for slaughter cattle across the region through the first half of May is becoming increasingly distant. The WBR Mercosur Steer Index declined again this week to US$ 4.72/kg carcass weight, down US$ 0.06 from the previous week and US$ 0.36 below the annual peak reached in the second half of April.

Several Brazilian beef exporters will begin granting collective vacations and reducing operations at some plants from July onward as China’s annual quota of 1.106 million tons of beef eligible for the preferential 12% tariff nears exhaustion.

Brazil has introduced a certification protocol for cattle raised without the use of antimicrobial drugs to comply with the European Union's new import requirements, which will take effect on September 3, Pecuaria reported.

Brazilian beef prices remained firm in May, supported by the acceleration of exports to China ahead of the exhaustion of the country's preferential-tariff quota and by stronger seasonal demand linked to the FIFA World Cup.

Bom Futuro, the agribusiness group controlled by Eraí Maggi Scheffer, has emerged as one of the leading contenders to acquire Fazenda Conforto, one of Brazil's largest cattle feedlots. The asset, located in Nova Crixás, Goiás state, is valued at around R$ 1.2 billion (US$ 218 million) and belongs to the Negrão family, according to Globo Rural.

A multisector delegation organized by Brazil's Ministry of Foreign Affairs traveled to Caracas to explore the resumption of beef exports to Venezuela, a market that imported as much as 160,000 tons of Brazilian beef and generated US$ 852 million in revenue in 2014 before trade virtually collapsed in mid-2015 due to the Caribbean nation's economic crisis.

Boi gordo prices in Brazil’s main cattle-producing regions declined for a second consecutive week.

Uruguay exported 96,569 head of live cattle during the first five months of 2026, about 20,000 fewer than in the same period of 2025, according to INAC data. In June, however, this trade flow gained momentum, based on export applications reported by Customs.

About 700 workers at Frigorífico Carrasco, Minerva Foods' plant in the department of Canelones, have been on temporary unemployment benefits since November 1, 2025, and their coverage expires on June 30. Without an extension of the benefit or a reopening date, they would effectively face indirect dismissal as of July 1.

On Monday afternoon, the union at Establecimientos Colonia, owned by MBRF, accepted a proposal from the Ministry of Labor and the company to reduce the plant's payroll costs, allowing slaughter operations to resume next week.

The supply of grass-fed finished cattle remains limited, but demand has become increasingly cautious as exporters monitor the downward pressure affecting key international markets.

Cattle slaughter was virtually unchanged from the previous week. According to INAC, 44,792 head were processed in the week ended June 27, just 159 fewer than the previous one. Compared to the same week last year, slaughter was down only 1%.

The sheepmeat market continues to display the same pattern that has prevailed throughout the first half of the year: very limited supply facing avid demand.

Although volumes remain relatively small, Argentina’s imports of Brazilian beef reached a record high in May, totaling just over 3,000 tons, including around 615 tons of chilled beef and 2,395 tons of frozen beef, according to INDEC data.

Inversora Juramento, the largest agribusiness company in northwestern Argentina, owner of the country’s largest feedlot and Frigorífico Bermejo, placed negotiable obligations for US$ 30 million at an annual rate of 6.35%, with a 24-month bullet maturity and semiannual interest payments.

Prices for export steers remained mostly stable. Finished British-breed crossbred steers, with better meat quality, traded in a range of Ar$ 7,900-8,000 per kilo carcass weight, while zebu-cross steers ranged between Ar$ 7,500 and 7,800 per kilo carcass weight.

The allocation of beef export quotas to the European Union once again emerged as one of Paraguay's main concerns during the 68th Ordinary Meeting of Mercosur's Common Market Council (CMC).

As planned, Frigonorte will begin its first slaughter operations this Friday with around 200 head, increasing throughput to about 450 head per day starting Monday.

Sources from Tropa Beef told World Beef Report (WBR) that the company has already secured one and a half weeks of operations.

The cattle market remained largely unchanged during the week despite a slight increase in supply. According to operators consulted by World Beef Report (WBR), one processor attempted to lower its bids by about US$ 0.05/kg, although the rest of the industry maintained purchase prices at virtually the same levels as the previous week.

The beef supply deficit in the US market is widening, and production will continue to decline in the second half of this year and in 2027, according to analyst Derrell Peel in an article published by Beef Magazine.

The US$ 150 million investment announced by JBS to expand its Cactus, Texas, plant is part of the company's strategy to reorganize its US operations, coming just days after confirming the closure of two facilities in Pennsylvania and Tennessee. The company said both moves are intended to modernize its industrial network and strengthen its long-term competitiveness.

Farm Action, a nonprofit agricultural advocacy organization, has released a report linking rising US beef prices to consolidation in the meatpacking industry and proposing a series of measures to strengthen domestic cattle production and increase competition in beef processing.

Geopolitical developments continued to influence commodity markets last week, with oil prices remaining a key driver. According to The AG Center, crude has retreated to levels seen before the conflict, and gasoline and diesel prices are expected to follow if oil remains near US$ 70 per barrel.

Compared to the last market test, import prices for Australian and New Zealand beef were mostly moderately to sharply lower, with some instances reported as weak to lower.

In his weekly analysis for Pig333, Spanish pork trader Guillem Burset warned that the European pork market is going through one of its worst crises in decades. He said June was a very disappointing month for Spain, with hog prices remaining below production costs and with no room for further increases.

Australia has reached 90% of its annual beef export quota to South Korea, putting the country's safeguard mechanism on track to be triggered during July and exposing Australian beef to significantly higher tariffs.

Between January and May, Brazil shipped 723,745 tonnes of beef to China, accounting for 56.3% of the country's total beef imports during the period.