The Chinese beef market continues to heat up

Faxmeat | The Chinese market maintains its strong dynamism that has been characteristic after the New Year at the beginning of February. According to a regional trader, the Russian crisis "exacerbated the demand" for beef that, at times, seems "somewhat uncontrolled." The source indicated that it seems that some importers want to "ensure" the supply of beef, even running the risk that prices are overheated. "Businesses close in 5 minutes," he graphed. Another broker was more cautious, saying that while there is demand, some of their clients "are not willing to pay what the industry is asking for, as they understand they are highly speculative about the war in Ukraine." "China is operating normally, what we continue to see is that after the New Year the demand acts hyperdynamically, mainly in the case of boneless cuts," commented an exporter from the region. One broker handled deals from Uruguay for shin & shank up to US$9,400 CFR and quarter cows from Chile between US$5,900-6,000. ...