Tariff uncertainty limits Brazil’s sales to the United States

Beef exports from South America to the US have come to a near standstill over the past three weeks. Shipments that departed origin by April 4 can still enter duty-free until May 27. Any cargo shipped after that will pay the 10% additional duty, explaining the halt in activity.

Initial figures show a sharp drop in Brazil’s exports to the US in the first three weeks of May compared to April, when volumes had reached 44,000 tons.

Meanwhile, trade from Brazil to Mexico remains relatively active. One trader reported deals at US$/t 6,300–6,400 for butt cuts, US$/t 5,900 for shoulder clod, US$/t 6,400–6,500 for knuckle, and US$/t 6,200–6,300 for topside and flat. Prices are CFR.