World Beef Report

World Beef Report 1662

After postponing the safeguard decision, China maintains its pessimistic tone
Firm tone for chilled beef prices to Europe
Itaú BBA projects lower cattle supply in Brazil in 2026 and firmer prices
Uruguayan beef production increases by more than 40 thousand tons
Record average export value for Uruguayan beef in November
Several export plants in Argentina bring holidays forward and shut down for two or three weeks
JBS eyes a possible return to beef production in Paraguay

editor: Rafael Tardáguila

12/3/2025

World Beef Report 1661

Brazil returns strongly to the U.S. market and seeks to take advantage of the quota
Brazil average export price at its lowest since early June
CPTPP approves opening negotiations to include Uruguay in the agreement
Indian giant Allana Group considers building a beef plant in Argentina
EU postpones again EUDR implementation and opens reviews to simplify its rollout
59% of China’s beef imports in October came from Brazil
China extended safeguard investigation by two more months

editor: Rafael Tardáguila

11/26/2025

World Beef Report 1660

Clouds gather over the future of Chinese beef demand
Improved sentiment in Chile as Kast becomes election favorite
Record cattle slaughter confirmed in Brazil during the third quarter
Shifts in cattle supply in Uruguay heading into 2026
Trump rolled back tariffs on beef imports
Experts project strong US cattle prices through the end of the decade
Chinese beef imports up 18% in October

editor: Rafael Tardáguila

11/19/2025

World Beef Report 1659

China International Import Expo fails to clear uncertainty in China
Sharp correction in Hilton chilled beef prices
Brazil exports to China matched September’s record
Slaughter at Brazilian federally inspected plants reached a peak in October
Cattle slaughter in Argentina increased in October, nearing July’s peak
The United States will continue needing large beef volumes for at least a couple more years
Interview - Fernando Burgueño, head of the Uruguayan stud Los Guayabos - “It’s the ideal time to bet on certified lamb”

editor: Rafael Tardáguila

11/12/2025

World Beef Report 1658

Three main exporters expected to cut beef shipments by 400,000 tons in 2026
Hilton market shows a marked slowdown
Argentina’s U.S. quota expansion expected to be temporary
Rabobank forecasts drop in Brazilian beef production and firm prices through 2028
Uruguayan beef exports to the EU at a 15-year high
Second-highest beef export volume in Australia’s history
The United States was the main destination for Paraguayan beef in October

editor: Rafael Tardáguila

11/5/2025

World Beef Report 1657

China lacks clear direction amid “speculation” after Trump-Lula meeting
Expectations over Argentina’s additional quota in the U.S. and Brazil’s possible return
Brazilian beef exports in October heading toward record volume
Lula optimistic after meeting with Trump: a “definitive solution” soon
Conflict resolved at Montevideo TCP port terminal
5% export tax on Argentine steer beef may return in November
Slaughter capacity utilization in Paraguay falls to lowest level of the year in October

editor: Rafael Tardáguila

10/29/2025

World Beef Report 1656

Chinese demand moves on a different track
Israel returns with higher prices
StoneX forecasts firm finished Brazilian cattle prices through the end of 2025
High Argentine export volumes in September, with the highest average value in three years
An additional quota for Argentina will not move U.S. beef prices
Imported beef stocks continue to grow in China
China: Mercosur beef imports rise by over 100,000 tons in four months

editor: Rafael Tardáguila

10/22/2025

World Beef Report 1655

China market remains unresponsive
Hilton chilled beef prices ease after Anuga
Bolivia surprises with new protocol with China including offal
Brazil average beef export value starts October lower
Uruguay feedlot cattle slaughter rises more than 20%
Despite expectations, no trade agreement was reached yesterday between Argentina and the U.S.
Wholesale beef prices in China show a gradual upward trend

editor: Rafael Tardáguila

10/15/2025

World Beef Report 1654

Regional exporters satisfied with the outcome of the Anuga fair
Record beef exports confirmed in September for Brazil
Another point of conflict between Marfrig and Minerva
China once again consolidates as Uruguay’s main beef market
Volume under quota 481 more than doubles the quarterly limit

editor: Rafael Tardáguila

10/8/2025

World Beef Report 1653

Rumors of dumping tariff add more noise to China
Argentine Hilton prices soften ahead of Anuga
Trump-Lula rapprochement impacts U.S. market
Brazilian beef exports to surpass 300,000 tons per month for the first time
Agrifatto revised Brazil’s export outlook upwards
Coprodec once again denied Marfrig’s asset sale to Minerva
Tax cut on exports in agri products in Argentina lasted just a breath, but not for meats

editor: Rafael Tardáguila

10/1/2025

World Beef Report 1652

Mercosur exports would fall by more than 250,000 tons in 2026
Datagro projects record cattle slaughter in Brazil in 2025, followed by a decline in 2026
Marfrig and BRF announced the completion of the merger process, giving rise to MBRF
Despite higher activity, China maintains downward pressure on prices
Just like the United Kingdom, Argentina could also keep part of the U.S. third-country quota
The Argentine government temporarily removed export taxes on grains and meat
Brazil, Australia and Uruguay dominate as origins in the different Chinese imported products

editor: Rafael Tardáguila

9/23/2025

World Beef Report 1651

China continues to pressure for lower prices and deal closures remain difficult
Upward trend in chilled prices in Europe continues
USDA forecasts a 300,000-ton drop in Brazilian beef exports in 2026
For the first time more females than males were slaughtered in a quarter in Brazil
Record number of calves and sharp decline in the number of steers in Uruguay
The Argentine Government modifies foot-and-mouth vaccination scheme starting in 2026
China imported beef stocks continued to rise in August

editor: Rafael Tardáguila

9/17/2025

World Beef Report 1650

In August, cattle slaughter in Mercosur recorded its first annual decline
China beef import market remains sluggish
Brazil shipments to China remained at peak levels in August
A new giant in the meat industry is born: Marfrig-BRF merger approved
Cattle slaughter fell in August during Auguts, but was the second highest of the year
With higher Mercosur share, exports to China remained strong in August
Sharp cut in Chinese beef import expectations

editor: Rafael Tardáguila

9/10/2025

World Beef Report 1649

No change in trend in the Chinese market during the last week
Another upward step for chilled beef prices in the EU
With US exit, Brazilian beef exports to Mexico grow
Uruguay average beef export value just a few dollars below 2022 record
Paraguay beef exports up 12% in volume through August
Steer for slaughter prices in Argentina projected to rise 10% by year-end
Chilean beef imports are projected to increase in 2026

editor: Rafael Tardáguila

9/3/2025

World Beef Report 1648

Chinese demand on stand-by mode
U.S. distorted by Customs measure on transshipments
Analyst forecasts a 30% increase in Brazilian slaughter cattle prices
This year 700-800 thousand cattle will be finished with some degree of supplementation in Uruguay
Argentina beef exports in July recorded the 2nd consecutive annual increase after six months below
Australia: historic highs for red meat production
Australia and Brazil increase share in Chinese imports

editor: Rafael Tardáguila

8/27/2025

World Beef Report 1647

China keeps pushing to pay less
Chilled beef market in Europe advances and reaches yearly highs
Cattle slaughter in Brazil reached a record in the second quarter of 2025
Signs of reversal in the livestock cycle in Mato Grosso
Cattle herd liquidation in Argentina not over yet, says analyst
Maximum since January in Chinese beef imports in July
In China, wholesale beef prices increased by US$/kg 1 since April

editor: Rafael Tardáguila

8/20/2025

World Beef Report 1646

The tug-of-war in China’s beef export market continues
The U.S. beef market is more active
Brazil shipped record beef volumes globally and to China in July
With July’s large production, Brazil will have a substantial beef exportable surplus this month
Argentina July slaughter was the highest since October 2024
US beef export volume in June was the lowest in five years
In July, a big volume of beef was shipped to China

editor: Rafael Tardáguila

8/13/2025

World Beef Report 1645

Despite Brazilian resistance, China manages to push prices down
US market “completely frozen”
Brazilian beef may escape the tariff hike, says JBS CEO
Uruguayan beef export value reaches highest since mid-2022
Paraguay exports grow despite decline in some traditional destinations
Turkey provides state support for the purchase of pregnant heifers
Another record for Australian beef exports in July

editor: Rafael Tardáguila

8/6/2025

World Beef Report 1644

Brazil exhausts all avenues to avoid 50% surtax in the US
Brazil–US factor continues to pressure China
July set to break all records for Brazilian beef export volumes
Uruguay’s cattle herd growth will be smaller than previously anticipated
The Argentine government lowers beef export taxes again, but it was more symbolic than an economic relief
The cattle herd in Argentina lost 1.23 million head over the past year
US cattle herd in lowest levels on record

editor: Rafael Tardáguila

7/30/2025

World Beef Report 1643

Between tariffs and speculation, China “deflates”
U.S. demand shifting more toward Australia
Trump’s threat leaves 30,000 tons of Brazilian beef in limbo and plants suspend production
Coprodec extends deadline again for the Marfrig-Minerva deal decision in Uruguay
Argentine beef exports in June were the highest since November 2024
In June, South American beef imports to China increased while U.S. imports collapsed
Uruguay positioned as the top supplier of beef offal to China

editor: Rafael Tardáguila

7/23/2025

World Beef Report 1642

Rumors circulate that China will impose a global beef import quota
The US tariff war against Brazil takes its toll on China
Brazil called US tariffs an “indecent action” and will seek new markets
INAC’s rejection of Minerva’s offer and the timeline that could jeopardize the deal
With no date set, Milei told producers that export taxes are the next to be eliminated
In China they say Argentina is one step away from accessing the beef offal market
Imported beef stocks in China rose again in June

editor: Rafael Tardáguila

7/16/2025

World Beef Report 1641

Stability in beef sales to China
Major suppliers cut beef exports to the U.S. in June
China regains dominance in June as Brazilian beef main destination
The two main beef exporters shipped record volumes in the first half of the year
Expectations consolidate for a record number of calves in Uruguay this year
The Argentine government distributed the Hilton Quota among 40 packing plants and 29 joint projects
Sharp increase in global beef exports to China in June

editor: Rafael Tardáguila

7/9/2025

World Beef Report 1640

China shows disparity in prices and demand
Volume registered for quota 481 nearly doubles quarterly allocation
Brazilian feedlot cattle numbers expected to rise 7% this year
Uruguay average beef export value rose 20% in the first half of the year
Uruguay beef exports to the U.S. at 11-month low in June
Argentine producer groups show first signs of discontent with the government
Turkey’s cattle market heats up again

editor: Rafael Tardáguila

7/2/2025

World Beef Report 1639

China opened the week with a new attitude and stronger demand
Reduced supply and Hilton chilled prices stabilizing
GATT quota market remains “hot”
U.S. market more active in closing deals
Uruguay sustains grainfed beef exports to the EU
Argentine beef exports rose 1.4% in volume and 9.4% in value in May
United States felt the tariff impact in sales to China

editor: Rafael Tardáguila

6/25/2025

World Beef Report 1638

Some importers attempt to pause China’s price recovery
U.S. beef market operating under a new dynamic
Meat production growth in Mercosur shows signs of exhaustion
Minerva seeks to block Marfrig–BRF merger
Japan’s market opening for Brazil would initially include five states
Minerva notifies Colonia sale to Allana Group for US$ 48 million
Argentina close to fulfilling 2024/25 Hilton quota

editor: Rafael Tardáguila

6/18/2025

World Beef Report 1637

Brazil pushes for better prices from China
Firm closures with Israel
Brazil’s export pace slowed in May
Cow slaughter down 15% so far this year in Argentina
Australia’s beef exports in May were third highest on record

editor: Rafael Tardáguila

6/11/2025

World Beef Report 1636

China maintains downward pressure, but some deals reflect Sial-level pricing
Uruguay’s monthly beef exports to the EU hit 16-year high
Legal dispute adds more “noise” to US tariff policy
Lequio acquisition to create Argentina’s largest slaughter group
Paraguay’s average export value reaches highest level in over a decade

editor: Rafael Tardáguila

6/4/2025

World Beef Report 1635

China holds prices steady after Sial amid cautious demand
Fresh drop for chilled and frozen beef in Europe
US market remains sluggish amid “uncertainty”
Brazil's export value hits highest level in over two years
EU rates Uruguay as “low risk” for deforestation

editor: Rafael Tardáguila

5/28/2025

World Beef Report 1634

Moderate volume sales at firm prices during Sial Shanghai
Tariff uncertainty limits Brazil’s sales to the United States
Algeria’s ports are full of beef
“There are rumors that China could move to a quota system”
Uruguay is “interested” in Allana entering the country, said INAC president

editor: Rafael Tardáguila

5/21/2025

World Beef Report 1633

SIAL and the US hit the pause button on China
Chilled prices in Europe strengthen again
Brazilian exports up by more than 90,000 tons in the four month period
Brazil shipped 55,000 tons of beef to North America in April
Beef prices are trending higher in the three main import markets
The aim is to be “more ambitious”
Global beef exports to China remain below 200,000 tons per month

editor: Rafael Tardáguila

5/14/2025

World Beef Report 1632

Trade war fallout ‘starts to bite’ in dealings with China
Kosher operations ramp up in the region
Uruguay: Beef export value at 32 month high in April
Uruguayan President Orsi meets India’s Allana Group
84 % of Argentina Hilton quota shipped by April, completion now unlikely
Paraguay beef exports up 21% year on year despite drop in top market
Australian April beef exports surge to near-record 127,000t

editor: Rafael Tardáguila

5/7/2025

World Beef Report 1631

Stable prices in China, but pressure to pay less persists
Mixed signals in the US
Brazil: Beef average export value hits highest level in more than two years
Brazilian processors seek more buyers for their beef in inland China
Heifers are the star of the Uruguayan domestic market
European bullock prices skyrocket 50% in the year so far
China’s frozen beef imports from Mercosur fall by more than 90,000 t

editor: Rafael Tardáguila

4/30/2025

World Beef Report 1630

China seeks to cool rising prices
Negotiations with Israel move forward
Mercosur steer hits highest level since mid 2022
Brazil: Expectations of higher exports despite lower production
Argentine processors weigh request to scrap export taxes amid the new exchange rate
Argentina: March exports fell 36 % year on year
China should increase imports by 11% over the remainder of the year

editor: Rafael Tardáguila

4/23/2025