Platts assessed Brazil Beef Marker FCA Santos unchanged April 26 at $4,375/mt. Market participants reported a warmed trade activity throughout the week, highlighting markets with better price conditions, such as the US, the Middle East and North Africa. The heated external demand has led to a rise in Brazilian beef export prices during the week.
The upcoming Labor Day holiday on May 1, has not yet had a positive impact on the demand for beef in the Chinese domestic market, market sources said. "The current demand for beef in China has weakened, and as a result, beef prices in the domestic and in the future prices of imported beef are being pressured. This is reflected in the lower bids levels for Brazilian beef," the source added.
Traders reported that Chinese bids for CFR FFQ-8 cuts have recently been around $4,400/mt, while Brazilian beef processors are hesitant to resume new trade volumes under current conditions. Demand reports in China are expected to be released in the second week of May, a source said. This will provide a clearer overview of current consumption conditions in China, particularly for beef, which is likely to drive future movements by Chinese-based buyers of the Brazilian protein.
US imported 90CL beef was assessed unchanged April 26 as value indications heard in the market were in a wide range and did not suggest a price trend lower or higher than the previous day.
On April 25, a Brazil-origin trade for 95VL was heard at $4,650/mt, or $2.11/lb. That equates to a 90CL equivalent value of $2.67/lb once the above-quota 26.4% tariff is applied.
Meanwhile, Australia-origin beef was heard delivered-US at AU$10/kg, or $2.96/lb.
Platts assessed 90CL Beef CIF US at $2.70/lb, or $5,952/mt, unchanged from the previous assessment day.
In market news, the US Department of Agriculture reported another instance of Highly Pathogenic Avian Influenza in a dairy cattle herd in Colorado on April 25, the first new case since April 19. This is the first case in Colorado, bringing the total to nine states that have had dairy cattle herds with bird flu.
Colombia became the first country earlier this week to place restrictions on beef imports from US states that have had HPAI cases, a move with which the US Meat Export Federation took issue.
"Colombia is the only country that has officially restricted imports of US beef," the federation said in an April 26 statement. "USMEF is encouraged that the vast majority of our trading partners are following the science on this matter."
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Bid at $4400/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Value at $4500/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Egypt, Brazil for H2 May loading, Trade at $4300/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Algeria, Brazil for H2 May loading, Trade at $4300/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Value at $4500/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Bid at $4400/mt, 27mt
Platts Protein: Beef, Full FFQ-95VL: CFR-USA, Brazil for H2 May loading, Trade at $4650/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Egypt, Brazil for H2 May loading, Trade (Previous week) at $4200/mt, 27mt
Platts Protein: US BEEF: 90CL FOB port-of-entry heard traded +$2.80/lb
Platts Protein: US BEEF: 90CL heard traded +$2.90/lb delivered to customer
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Bid at $4500/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Offer at $4300/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Trade at $4500/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Value at $4800/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Value at $4600/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Algeria, Brazil for H2 May loading, Trade at $4300/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Egypt, Brazil for H2 May loading, Trade at $4300/mt, 27mt
Platts Protein: Beef, Topside: CFR-UAE, Brazil for H2 May loading, Trade at $4850/mt, 27mt
Platts Protein: Beef, Striploin: CFR-UAE, Brazil for H2 May loading, Trade at $6300/mt, 27mt
Platts Protein: Beef, Tenderloin: CFR-UAE, Brazil for H2 May loading, Trade at $8300/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Egypt, Brazil for H2 May loading, Trade at $4200/mt, 27mt
Platts Protein: Beef, Full FFQ-95VL: CFR-USA, Brazil for H2 May loading, Trade at $4550/mt, 27mt
Platts Protein: Beef, FFQ 8 cuts: CFR-China, Brazil for H2 May loading, Bid at $4200/mt, 27mt
Platts Protein: Beef, Full FFQ-95VL: CFR-USA, Brazil for H2 May loading, Trade at $4350/mt, 27mt
Platts Protein: Beef, Full FFQ-90VL: CFR-Saudi Arabia, Brazil for H2 May loading, Trade at $4500/mt, 27mt