Imported beef stocks in China rose again in June

Weak end-user demand for beef is causing imported beef stocks to increase in cold storage facilities in China. According to the index updated monthly by OIG+X, it stood around 83 in June, after having hit a low of under 75 in December 2024. The index is set with a base of 100 in December 2023.

OIG+X arguments that “the arrival of large volumes from high-priced April orders led to rising port inventories, putting downward pressure on the market. Combined with persistently weak end-user demand, the upward trend began to slow, and signs of price softening have started to emerge for certain items”.

It added that terminal demand remained sluggish. “High temperatures and weakened consumer sentiment dampened procurement enthusiasm in both foodservice and retail channels. Replenishment was limited to small, demand-driven orders, and overall sales pace remained slow”.