Argentina highlights growing U.S. demand

“Now that it’s clear the 10% tariff is staying in place, the U.S. has started buying aggressively and demand has picked up,” an Argentine market operator told WBR. He cited reference prices under quota of US$/t 19,000 FOB for chilled rib eye, US$/t 15,000 for striploin, US$/t 10,000 for rump, and US$/t 25,500 for tenderloins.

A broker explained that while prices in the U.S. have improved by around 10% compared to March, “that gain was eaten by Trump’s tariffs,” so the sales value for exporters has seen virtually no change.

Meanwhile, a Uruguayan exporter noted that Uruguay shipped less beef to the U.S. in June. “I still don’t see any improvement. Today, prices are below China’s for regular production, although this week may be key for the market’s outlook,” he said, referring to the 940-page bill that the U.S. Congress aims to vote on before July 4, which includes tax exemptions and spending cuts.

There is also speculation around what could happen after the 90-day pause (expiring July 9) that Trump had offered several countries to renegotiate the tariffs imposed.