MENA finds it hard to close beef deals

“A Brazilian forequarter above US$/t 5,000 is unviable for most Middle Eastern countries,” a regional trader said. That explains the depressed trade flow: these destinations face lower oil prices and currency devaluations.

More offal business is being done: livers to Egypt from Brazil, Argentina and Uruguay at US$/t 1,600-1,800 CFR; hearts at US$/t 1,600; kidneys at US$/t 1,000; and fat at US$/t 1,000-1,100—although demand for fat “is limited.”

With China weak on sheepmeat, MENA is taking lamb carcasses from Uruguay at US$/t 5,300 CFR, a trader said.