Chinese meat market remains weak and without reaction

Published Jun 14, 2024

Tridge summary

The article highlights the slowdown in commercial activity in Uruguay's grain-fed meat market during the Dragon Boat Festival in China, leading to limited business volume and high market stocks. Despite a flat market, there is limited interest in grain-fed meat at current prices, which do not meet the expectations of the Uruguayan industry. OIG reported stable prices, with meat from Uruguay and Argentina priced at around US$/t 2,600 and US$/t 3,700, respectively. Chilean businesses were also buying beef at around US$/t 3,050-3,100 CFR, while Argentine cow in 6 cuts was priced at US$/t 4,000 CFR, with bids for the same received at US$ 3,850-3,900/t on Tuesday. The market trend continues to be downward, with prices remaining stable but unsatisfactory for industry expectations.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In addition, June 8 to 10 was a holiday in China for the celebration of the Dragon Boat Festival, something that further cooled the commercial flow at the start of the week. Within a “flat market”, there is something “more of interest” in grain fed meat, although with values that do not satisfy the Uruguayan industry either, said an intermediary. According to OIG, business volume was limited during the last week, with high stocks in the market. He added that prices remained stable, with references for a 80 VL trimming from Uruguay on an axle of US$/t 2,600 CFR and a 90 VL front from Argentina at US$/t 3,700. Other sources reported business from Chile per quarter of a cow at US$/t 3,050-3,100 CFR, while the cow in 6 cuts from Argentina is ...
Source: Agromeat
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