Wholesale beef prices rose in April but ended the month lower.

OIG+X reports that the average wholesale beef price has risen above US$ 8.50/kg in April, after hovering around US$ 8 in February and March. As shown in the accompanying chart, wholesale beef prices have now moved above lamb prices, reversing the pattern seen in the first quarter of 2025 when beef traded lower.

Nevertheless, OIG+X said that in April, China's beef import spot market prices initially rose and then fell back. “Early in the month, spot prices quickly surged, driven by sentiment from the futures market. However, overall demand remained weak, with limited enthusiasm from restaurants and supermarkets. The market exhibited a cautious wait and-see attitude. By late April, with insufficient pre-holiday stockpiling for Labor Day, the market continued its weak trend, and prices from upstream suppliers started to decline”.