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Argentine Beef Futures Transaction Prices See Significant Rise at CIIE On Nov 10, the 7th China International Import Expo (#CIIE) concluded in #Shanghai, with the #Argentine Beef Promotion Institute (#IPCVA) and 14 #beef #exporters participating in the event. Argentine exporters reported that, in addition to the active #participation of numerous #Chinese #importers, the Chinese beef import market showed a #robust trend, with a significant increase in beef #futures #prices compared to the #SIAL Shanghai in May of this year. Several positive factors have boosted exporters' #confidence and excitement about the outlook for Argentine beef #exports in 2025. Firstly, #live #cattle and beef prices in #Brazil continue to rise. Secondly, beef supplies from the #U.S. remain extremely tight. Additionally, since the #large-scale #culling of livestock by Chinese producers this year, the peak supply phase of domestic beef seems to have passed, and the domestic market in China is expected to face supply #shortages in the coming months. Meanwhile, Chinese consumers' strong preference for #grain-#fed beef has been reaffirmed, with acceptable prices for grain-fed cuts significantly higher than those for grass-fed beef from #cow cuts. The following are some of the reference prices for #Argentine beef (#CIF prices) during the CIIE: #Grass-fed Beef: #Topside cap off: 6,000–6,100 USD/T #Oyster blade: 6,200–6,400 USD/T #Trimmings 70 VL: 3,300 USD/T #Trimmings 80 VL: 3,600 USD/T #Thin flank: 4,300–4,500 USD/T #Flank: 3,500–3,700 USD/T #Grain-fed Beef: #Oyster blade: 8,600 USD/T #Chuck tender: 6,000 USD/T #Chuck: 7,100 USD/T #Brisket: 5,300 USD/T #NE brisket: 6,300 USD/T #Bolar blade: 5,600 USD/T For further insights into research reports related to China's meat industry, please feel free to reach out to us.

OIG News | Global Exporters Unite to Drive Beef Futures Prices Higher as CIIE Sparks Price Surge At the China International Import Expo (#CIIE) held in #Shanghai this week, the #robust upward trend in #beef #prices continued to strengthen. This trend had initially emerged at the #SIAL Paris Food Exhibition. Fausto Martín Brighenti - 骨之主, partner and director of a renowned #SouthAmerican trading company, stated, "Exporters from #Argentina and #Brazil have widely reported increases in both #quoted and #transaction prices, driven primarily by a shortage of #live #cattle #supply in Brazil." He further pointed out, "The coordinated price increases among major exporting countries have put them in a #dominant position in negotiations with Chinese buyers." Specifically, the transaction price for #Argentine #cow #6-way cuts has surpassed 5,100 USD/T CFR, a rise of 500 to 600 USD/T compared to one and a half months ago. Meanwhile, the current price for #Brazilian #forequarter of #8 cuts has exceeded 5,500 USD/T, a significant increase from the below 5,000 USD/T price one month ago. At the same time, the export volume of beef to China from exporting countries has continued to grow, with both Brazil and Argentina setting historic export records, further confirming the strong market demand. Observing the negotiations at the CIIE, Brighenti also noted that China's demand for #bone-in and #grain-fed beef is notably increasing, particularly for grain-fed beef. #Australia is actively responding to this demand, maintaining high price levels. Looking ahead, Brighenti forecasts that #Argentina will maintain high production levels in 2025, while Brazil's production may see a slight decline. For more information, please get in touch with us at [email protected].

Coming off a strong rebound in 2023, January-April U.S. beef exports to Mexico increased 19% to 77,530 mt, while value jumped 24% to $454.3 million. This included an outstanding performance for beef variety meat exports, which increased 23% from a year ago in volume (40,490 mt) and 16% in value ($108.7 million). #USMEF #USBeef #BeefCheckoff

OIG News | US May pork exports below last year Although %pork export volume to leading market #Mexico slowed in #May following record-large April shipments, #export value still #increased and 2024 demand remains on a record pace, according to data released by #USDA and compiled by #USMEF. May exports to Mexico totaled 91,338 mt, down 6% from a year ago, but value was 2% higher at $201.9 million. January-May exports to Mexico reached 480,193 mt, up 7% from a year ago, while value increased 14% to $1.02 billion. While Mexico continues to shine as a destination for #hams and other pork cuts for further processing, the US industry has made impressive inroads in the country’s rapidly growing #retail and #foodservice sectors, with per-capita pork #consumption continuing to #expand. Mexico is also a major outlet for US pork variety meat, including for taco applications. Pork exports to #Korea posted another robust performance in May, totaling 22,354 mt. This was up 6% from a year ago, while value increased 8% to $78.9 million. Through May, exports to Korea climbed 35% above last year’s pace to 118,092 mt, while value soared 40% to $395.4 million. The US industry continues to capitalise on Korean consumers’ growing appetite for convenient, easy-to-prepare entrées and snacks, while US pork is also gaining traction in the foodservice sector. Despite lower shipments to leading market Honduras, May pork exports to Central America increased 11% from a year ago to 11,711 mt, while export value climbed 26% to $37.8 million. May exports to #CostaRica nearly tripled from a year ago, while also gaining strength in Guatemala and El Salvador. January-May exports to the region increased 25% from a year ago to 64,161 mt, while export value soared 35% above last year’s record pace to $196.8 million. Source: The Pig Site For more information about global meat market, please contact us via [email protected]

OIG News | #Brazilian #Beef #Shipment Volume Revealed a Year-on-Year Increase Yet the Average Export Price Still at a Low Level   According to statistics from the Secretariat of Foreign Trade at the Ministry of Economy (#SECEX), #Brazil's #exports reached a volume of 55,300 tons last week. This marked a significant increase of 21,300 tons or a 62.6% rise from last week's 34,000 tons.   In March of last year, Brazil exported 124,300 tons of beef. As of March 24th of this year, Brazil has already exported 139,900 tons of beef, exceeding last year's the entire March. Brazilian beef exports are projected to reach 170,000-180,000 tons this month, a significant rise from the same period last year. Despite the increase in shipment volume, the average price of beef exports remains relatively low. Recent data indicates that the average price of Brazilian beef exports this month is 4,526 US$/T, down from 4,811 US$/T in March of last year, representing a decrease of approximately 5.9%. On Mar 12, GACC approved the #import declaration of 37 Brazilian meat facilities, of which 26 are beef facilities (including 1 beef facility that can only export #canned food).   The year 2024 marks the 50th anniversary of the establishment of diplomatic relations between China and Brazil, a milestone that highlights the deepening #economic and #trade ties between the two countries. In 2023, #China maintained its position as Brazil's largest #trading partner for the 15th consecutive year, with Brazil's exports to China surpassing 100 US$ billion for the first time. This year, a further growth in the volume of Brazilian beef exported to China is expected, as more Brazilian meat facilities seek access to the Chinese market.   Stay tuned for the latest updates on the global meat market. If you have any doubts, please contact us via [email protected].

This chart shows some very encouraging developments for the U.S. pork industry. From 2015 to 2024 pork exports are on a trajectory to increase by over 1.2 million metric tons, a jump of over 55%. This increase comes despite U.S. pork and pork variety meat demand from Hong Kong/China declining by over half a million tons from 2000-2023 and by an additional 46 thousand tons from January through September this year (the latest data available). More encouraging news is that exports to Mexico continue to rise. Year-to-date (Jan-Sept) pork and pork variety meat exports to Mexico are up 7% over last year and pork exports to South Korea are up 25%. The pork industry is facing challenges, but exports certainly have been a bright spot. #swine #porkexports #usmef

The US Pork Industry exports approximately 25% of all pork produced and that number is even bigger in Canada, about 70%. Mexico is among the world's largest pork importers. While overseas markets are critical, we must remember that a very high percentage of this trade is conducted among the three countries of North America. By quantity, Canada and Mexico combined account for 47% of all US exports or about 12% of total production. Likewise, the US and Mexico together account for about 43% of Canada's exports or about 30% of total production. Mexico is among the world's largest and fastest growing importers of pork and the vast majority of that (over 90%) comes from the US and Canada. Swine Insights International believes the North American trade block represents the most powerful regional trade group in the world and that maintaining free and robust trade should be among the highest priorities of all three countries. Significant uncertainty, fueled by political transitions in Mexico and the United States, threatens to weaken these ties. Swine Insights Founder, Todd Thurman, has repeatedly reinforced the importance of North American trade. Speaking at a recent event, he said, "We call on all parties to take the necessary steps to ensure North America remains the cornerstone of all three countries' trade strategies as we enter what promises to be a tumultuous global trade environment." #trade #pork #agriculture #Canada #Mexico #USA This content is entirely human-generated.

OIG News | Brazil Chicken Exports Rise in March - Cepea After two consecutive months of decreases, the volume of #Brazilian #chicken meat sold to the international markets and the income obtained with shipments moved up again in March, according to a recent market report from #Cepea. According to data from #Secex, 418.1 thousand tons of chicken meat were exported in March, up 5.2% compared to that in February/24, but still 18.7% less than in March 2023. In the first quarter of this year, Brazil shipped 1.2 million tons, downing 7.2% against the same period of 2023. The income obtained with international trades was BRL 3.7 billion in March, for an increase of 6.7% compared to February/24, but 26.6% less than in March/23. In the first quarter this year, exporters received BRL 10.6 billion, moving down 20.6% in relation to the same period of 2023 – data from Secex. #Shipments to #China dropped 7.4% from February to March; however, the national sector continues positive, since new meat-packers are now allowed to export the product to China. Source: thepoultrysite  If you prefer China's meat import data from Brazil, please don't hesitate to reach out to us at [email protected].

OIG News | Brazil's Beef Exports Surge to Historic High in Sept According to data from the Foreign Trade Secretariat (#SECEX), #Brazil's #exports of #frozen and #processed #beef reached 319,026 tons in Sept 2024, marking a historic high with a year-on-year (YoY) increase of 30%. The export #value for Sept was US$1.287 billion, reflecting a 28% increase YoY. From #Jan to #Sept 2024, Brazil's total beef exports amounted to 2,349,611 tons, a 33.7% increase YoY, with the export #value growing 21% to $9.394 billion. #China remained the #primary destination for Brazilian beef, with exports to China reaching 932,335 tons and valued at US$4.119 billion during this period. The Brazilian Meat Packers Association (#Abrafrigo) noted that exporters have slightly #increased the average price of beef through negotiations, with the current average price at US$4,035 per ton, which is close to $4,073 per ton in the same month of 2023. For more information, please contact us via [email protected]

OIG News | Argentina's Beef Exports to China See Consecutive 3-Month Year-on-Year Growth According to data from #Argentina's National Institute of Statistics and Census (#INDEC), the total export volume of fresh and frozen beef from Argentina in March was 64,460 tons (product weight), a decrease of 6.8% from February but an increase of 19.1% compared to March 2023. #China remains the primary destination for Argentina's #beef #exports, accounting for 76.6% of its total exports. In March, Argentina exported a total of 15,237 tons of bone-in beef and 33,618 tons of boneless beef to China, a slight decrease from February. In the first quarter of 2024, Argentina's beef exports reached 195,415 tons, a 24% year-on-year increase, with an average export price of US$3766 per ton, down 10% from the same period last year. During the first quarter, Argentina exported 43,900 tons of bone-in beef and 109,593 tons of boneless beef to China, representing increases of 66% and 17% respectively compared to the same period last year. If you prefer global meat data, please don't hesitate to reach out to us at [email protected].