The global meat market is experiencing a scarcity in supply, with Australia and Brazil reducing their beef exports by 22% and 3% respectively due to retention of livestock. Argentina, capable of making up for this shortfall, has imposed its own restrictions on exports, leading to a 12% increase in exports in the first five months of the year but a significant loss in stocks thereafter. The United States and Uruguay have capitalized on this opportunity, increasing their beef exports to China and emerging as the big winners.