In January 2023, beef shipments from Argentina, Brazil, and Uruguay saw mixed results with growth in volume and value for Argentina and Brazil, but a decrease in volume for Uruguay despite an increase in value. The average export price of refrigerated and frozen beef was at its lowest since May 2022, with China being the main export destination for both Argentina and Brazil. However, Uruguay saw a 55% drop in dollar shipments due to lower demand, despite China still being the main destination for 51% of its beef exports.