Uruguayan Meat Prices Drop in W34 Due to Lower Demand From China

Uruguay hopes the beef import market in China stabilizes since imports have decreased due to the COVID-19 lockdowns. In W34, Uruguayan beef prices saw a downward trend, with CFR prices reaching USD 8K/ton, representing a decrease from the previous weeks when the price stood at USD 8.5K/ton. The demand in China is forecasted to remain low as the devaluation of the Yuan against the dollar makes the product more expensive.