Hilton quota prices tending to stabilize

During the Sial Shanghai fair, Hilton quota deals for rump & loin cuts were somewhat lower than in previous weeks. Importers once again pressured to lower purchase prices.

From Argentina, deals were made in the US$/t 17,500–18,000 FOB range, but recent transactions have leaned toward the lower end. In Uruguay, trades were reported at up to US$/t 16,800 FOB through mid-last week, but the Argentine correction may push this week’s deals “a step below,” an exporter told WBR. An importer said the current market is closer to US$/t 16,500 FOB.