Exporters from various countries join forces to raise beef futures prices at the CIIE

This week's China International Import Expo (CIIE) held in Shanghai continued and strengthened the strong rise in beef prices caused by the SIAL Paris Food Exhibition.

Fausto Brighenti, a partner and director of a well-known trading company in South America, said in an interview, "The increase in quoted and transaction prices has been widely reflected in exporters from Argentina and Brazil, all due to the current shortage of live cattle supply in Brazil

The Chinese trading personnel commented in Shanghai, 'The joint efforts of major exporting countries to raise prices have given them a dominant position in negotiations with Chinese buyers.'. He said, "The transaction price of beef is rising. Taking Argentina as a reference, the transaction price of six cuts of cows has exceeded $5100/ton CFR, an increase of $500 or $600 per ton compared to a month and a half ago

Compared to the price of less than $5,000/ton a month ago, the current price of Brazilian cattle front-end kits exceeds $5500/ton. He emphasized, "This is good news for beef exporters from all countries

While prices continue to rise, the trading volume of beef exports from various countries to China is also increasing, with Brazil and Argentina setting (historical) export records respectively.

Through observation of the negotiations at the CIIE, Brighenti also emphasized the current surge in demand for boneless beef and grain fed beef in the Chinese market. For the latter, Australia is making efforts to cope and the prices are also high. The demand and price of grain fed beef in China are both increasing

For the future supply situation, he expects Argentina to be able to maintain high production in 2025, while Brazil's production may decrease.

He said, "Next year will be a very good year, a wonderful year for South American producers and exporters