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ANALYSIS: China’s May 2024 Beef Imports Soar 30% YoY; Consumer Shifts from Pork

China’s May 2024 beef imports rebounded from last month, rising 4.5% m-o-m or 10,048 mt to 234,449 mt, the latest General Administration of Customs People's Republic of China data indicated.

On a yearly basis, volumes soared 30.7% (55,053 mt), primarily driven by a hike in Brazilian imports. Exports to China was previously suspended in 2023 over Bovine Spongiform Encephalopathy (BSE) issues.

Year-to-date (YTD) figures stood at 1.23 million mt, a decline of 23.6% or 234,589 mt compared to the same period last year...

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Jun 21 11:49 AM, Urner Barry



Trade Barriers Removed from Exports of French and Irish Beef to Republic of Korea

French and Irish beef producers will once again be able to export beef to the Republic of Korea, thanks to the European Commission’s efforts to negotiate the removal of local restrictions on EU beef.

In a significant development for the European beef industry, the Republic of Korea has officially opened market access for beef from France and Ireland. This positive result follows consistent representations made by the Commission, including through direct outreach by Commission Executive Vice-President Valdis Dombrovskis...

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Jun 14 8:43 AM, Urner Barry


ANALYSIS: Divergent Pricing Strategies for Mexican Export Short Loins

The Mexican export market has shown contrasting positions regarding the negotiation of short loin prices with the U.S. market. On one hand, some sellers have chosen to negotiate material at lower prices, responding to the historically seasonal decline in short loin prices starting in June and avoiding the risk of holding material that could depreciate even more in the future. On the other hand, there is an opposing stance that directly responds to current market trends. Observing the U.S. boxed beef market, short loin prices have shown a...

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Jun 14 8:00 AM, Urner Barry


ANALYSIS: China’s May 2024 Meat Imports Slip 3.35% Y-O-Y Over Weak Consumption

Preliminary custom statistics showed that China’s May 2024 meat imports (including entrails) were recorded at 557,000 mt, the latest General Administration of Customs People's Republic of China data indicated. 

Imports rose 2.39% m-o-m from April 2024’s 544,000 mt. Market players believed this increase was largely driven by the influx of Brazilian material. On 12th March 2024, China approved the addition of 38 new production plants to receive imported meat from Brazil, leading to an increase...

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Jun 7 1:37 PM, Urner Barry


ANALYSIS: Australian Beef Imports Maintain the Top Spot

The USDA Agricultural Marketing Service's weekly report on Imported Meat Passed for Entry in the U.S. by Country sheds light on the ongoing dynamics in the beef import market. With domestic 90% Fresh Chemical Lean prices remaining historically high (Chart 1), it is no surprise that the volume of fresh beef boneless trimmings imported to the U.S. has reached levels unseen since 2015. Year-to-date (YTD) import shipments are pegged at 253,464 metric tons (MT), 31% above the 10-year average...

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May 23 8:00 AM, Urner Barry


ANALYSIS: China’s Beef Imports Hit Lowest in April Since Start of 2024 Amid Sluggish Demand

China’s April 2024 beef imports plummeted to its lowest point since the start of the year, shedding 7.7% month over month or 18,718 mt to 224,402 mt, the latest General Administration of Customs People's Republic of China data indicated.

By virtue of its population, China is the world's second largest beef market after the US, with most of the growth led by affluent urbanites. In recent years, the beef market has been further boosted by the rapid growth of the 'quick commerce' sector, which 

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May 22 8:08 AM, Urner Barry


American, Mexican, and Canadian Cattle Producers Sign Joint Statement Raising Brazilian Beef Concern

Today, leaders of the National Cattlemen’s Beef Association (NCBA), Confederación Nacional de Organizaciones Ganaderas (CNOG), and Canadian Cattle Association (CCA) signed a joint statement to continue advocating for greater oversight of emerging lab-grown proteins, protecting cattle from animal diseases, and promoting the sustainability of the cattle industry. This action builds on the recent statement signing with Cattle Australia and furthers the international partnerships between cattle producers.

“The signing of this joint statement is an important step that unites cattle producers across North America...

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May 17 8:00 AM, Urner Barry


ANALYSIS: Global Price Overview– Beef Knuckles

Urner Barry offers comprehensive beef price coverage across the world's largest markets. This analysis examines a popular cut, the knuckle, which is traded in different global regions. The report explores market conditions and price trends for knuckles, a round cut utilized in various applications such as processed steak items, ground beef production and for slicing and dicing.

To access the full range of Urner Barry's market insights, refer to our prices and market commentary. This includes coverage for U.S. Choice, Select, and Ungraded Boxed Beef, as well as U.S. Boneless Beef markets...

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May 10 3:14 PM, Urner Barry


Monthly Import Cargo To Reach 2 Million TEU Through Early Fall

Monthly inbound cargo volume at the nation’s major container ports should consistently be above 2 million Twenty-Foot Equivalent Units through this summer and into early fall, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“We haven’t seen numbers this high for this many months in almost two years,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Regardless of what headlines about the economy might say, consumers are shopping and retailers are making sure they... 

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May 8 1:18 PM, Urner Barry


Import Cargo To Hit 2 Million Containers For First Time Since Last Fall

Next month’s inbound cargo volume at the nation’s major container ports is expected to top 2 million units for the first time since last fall as imports grow despite new supply chain challenges, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“U.S. imports are continuing to increase despite another disruption impacting U.S. ports,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “As retailers have adjusted to limits...

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Apr 10 9:00 AM, Urner Barry


Analysis: Weekly Record High Volume in US Fresh Imported Lamb Product

According to the USDA’s latest National Weekly Lamb Carcass & Lamb Cuts report, the week of March 11th, 2024, experienced the highest weekly national imported volume of fresh lamb products to the US recorded since data collection began in 2005, totaling 4,424,235 pounds.

This represents a substantial increase, showing a 19.4% rise in the year-to-date total volume compared to this same period last year, and highlights a peak in demand activity as Easter 2024 approached. A significant portion...

 

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Apr 5 8:00 AM, Urner Barry


Majority of EU Countries Ask Bloc to Scale Back Deforestation Law

Some 20 members of the European Union asked Brussels to scale back and possibly suspend the bloc's anti-deforestation law on Tuesday, saying the policy would harm farmers, in the latest blowback against Europe's environmental agenda.

The EU law aims to root deforestation out of supply chains for beef, soy and other agricultural products sold in Europe, so that European consumers are not contributing to the destruction of global forests from the Amazon to Southeast Asia.

Those rules equally apply to European farmers, who will be banned from exporting...

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Mar 27 8:49 AM, Urner Barry


ANALYSIS: The Surge in Boneless Beef Imports Amidst Constrained U.S. Herd

The UB Beef Trimmings, 90% Fresh Chemical Lean quotation reached a record weighted average high of $333.25 per hundredweight on March 18, 2024. Meanwhile, according to the USDA’s latest Semi-Annual Cattle Inventory report, the number of beef cows were reported at 28.2 million head, the lowest level since 1961.

With constrained availability of cows in the domestic market and record high pricing for lean trim, end users look to alternatives to satisfy demand.  They have done so quite successfully through imported boneless beef...

 

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Mar 20 8:13 AM, Urner Barry


ANALYSIS: South American Beef Exporters Diversifying Beyond China In 2024

As we approach the end of the first quarter of 2024, a subtle yet discernible trend is emerging among major South American beef exporters, particularly Brazil and Uruguay. These countries are showing a tendency towards exploring attractive markets for their beef exports. This strategy doesn't signify a major shift away from China, remaining as the world's largest beef consumer, but rather an adaptive response to diversify their export destinations.

This trend becomes evident when analyzing the beef export data up to February 2024 (frozen, fresh or chilled)...

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Mar 15 8:00 AM, Urner Barry


Another 38 Brazilian Slaughterhouses Can Export Meat to China

Number of license issuances in a single advertisement is the highest ever recorded in history

In the year in which Brazil celebrates 50 years of diplomatic relations with China, another 38 Brazilian meat processing plants were authorized to sell meat to the Asian country, according to a statement from the General Administration of Customs of China (GACC) sent to the Ministry of Agriculture and Livestock (Map) this Tuesday ( 12) .

38 licenses were granted, including eight chicken slaughterhouses, 24 cattle slaughterhouses, a beef thermoprocessing establishment and five...

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Mar 12 8:53 AM, Urner Barry


ANALYSIS: South American Beef Exporters Diversifying Beyond China In 2024

As we approach the end of the first quarter of 2024, a subtle yet discernible trend is emerging among major South American beef exporters, particularly Brazil and Uruguay. These countries are showing a tendency towards exploring attractive markets for their beef exports. This strategy doesn't signify a major shift away from China, remaining as the world's largest beef consumer, but rather an adaptive response to diversify their export destinations.

This trend becomes evident when analyzing the beef export data up to February 2024 (frozen, fresh or chilled)...

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Mar 12 7:47 AM, Urner Barry


Import Cargo Returning to Normal After Red Sea Disruptions

With the supply chain adjusting to ongoing Houthi rebel attacks on commercial vessels in the Red Sea, inbound cargo volume at the nation’s major container ports remains on track to show year-over-year increases through the first half of 2024, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Retailers continue to work with their partners to mitigate the impact of disruptions from the Red Sea and Panama Canal restrictions,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said...

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Mar 8 2:50 PM, Urner Barry


ANALYSIS: Australia’s Beef Exports Continued to Rise Behind Higher Output, Strong Demand

Australia’s beef/veal exports for February continued to rise, nearing levels last seen in Feb 19, up 24% m-o-m or 18,249 mt to 93,834 mt, driven by higher country output and robust demand from Asia and the US, data from the Department of Agriculture, Fisheries, and Forestry (D.A.F.F) indicated.

The ongoing upward trajectory since the start of the year is also attributed to increased processing intensity, eased export restrictions with China, and rising cattle slaughter rates.

Notably, exports to Japan reached a 52-week high at 23,794 mt...

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Mar 7 9:34 AM, Urner Barry


USDA Under Secretary Alexis Taylor to Lead Historic Native Nations Agribusiness Trade Mission 

U.S. Department of Agriculture Under Secretary for Trade and Foreign Agricultural Affairs Alexis M. Taylor will lead an historic agribusiness trade mission to Vancouver, British Columbia, Canada, from June 17-20, 2024. This USDA mission will be the first of its kind, specifically highlighting products made and produced by tribal agribusinesses.

USDA is excited the trade mission will highlight the reinvigoration of historic agricultural trade networks amongst Native Nations across the United States and Canada. Participants will be tribal producers with the Made/Produced by American Indians...

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Feb 22 10:20 AM, Urner Barry


ANALYSIS: A Seasonal Snapshot of Christmas and Easter's Boost to Lamb Leg Sales

As Easter approaches, the demand for lamb legs in retail stores noticeably rises, spurred by holiday traditions. Consumers, particularly those of the Catholic faith, often buy lamb legs for Easter as a symbol of renewal. Similarly, lamb is a popular choice during Christmas for some households. This trend leads to a significant uptick in both discounted and non-discounted sales at the retail level, highlighting the cultural impact of these occasions on the protein markets. To meet this surge in demand, suppliers and retailers diligently ensure an...

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Feb 21 8:21 AM, Urner Barry


ANALYSIS: December Chicken Export Volume Reaches New Seasonal Altitude

Judging by the year-end numbers, chicken export movement concluded 2023 under a relatively robust backdrop, especially when considering the ongoing global trade complications related to HPAI. At 645.2 million pounds, total outbound tonnage during December not only surpassed the previous year by 7.4%, or 66.1 million pounds, but also hit a record seasonal high.

The cumulative data, however, tells a slightly different story of how the year played out. Between January and December, total export volume retreated by 4.2% when compared with the previous year...

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Feb 16 11:12 AM, Urner Barry


Cleveland-Cliffs to Idle Weirton Tinplate Facility Following Unfavorable ITC Ruling

Cleveland-Cliffs Inc. announced today that it will be indefinitely idling its tinplate production plant located in Weirton, West Virginia in April 2024. The need to idle the Weirton plant is a direct result of the unanimous decision issued by all four members of the International Trade Commission (ITC) negating the implementation of anti-dumping and countervailing duties on tin mill products calculated by the Department of Commerce. A WARN notice is being issued today to approximately 900 impacted employees...

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Feb 15 8:07 AM, Urner Barry


ANALYSIS: January's Shifting Trends in Brazilian Beef Export Dynamics

The recently released  Brazilian export data for January unveiled significant shifts in the beef market, signaling a slightly broader diversification of Brazilian beef export destinations early this year.

While China remains the dominant player, its share saw a slight decline, as frozen boneless beef exports to China dropped by 11.8% from the same time of last year, amounting to a massive volume of 96,329 metric tons (MT) compared to 98,857 MT for the previous January, aligned with a 9.49% reduction in the average price per MT. This decline in prices reflects...

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Feb 15 6:22 AM, Urner Barry







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