China with stable and fluid market at the start of 2021
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Author:GMTT
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Published time: 2021-01-14
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The Chinese market remained at the start of the new
year as the great catalyst for the international beef trade. After solving
logistic headaches in some ports, the activity with the Asian giant continues. “They are operating
normally,” a Uruguayan exporter
said.
The source indicated that values remain stable and loads are collected without
major difficulties. He said that there was a “small downturn” in chilled operations (see
more under Uruguay), but there is expectation that it will return to pre-holiday
levels by the end of January. The industrialist indicated that the Chinese
market has become a “more than relevant” destination for
hindquarter and middle cuts, with deals for rump & loin in a range of US$/t
8.700-9.000 CFR, even above the European Hilton. In addition, China was “the alternative” — together with Brazil — to place rump around US$
5,000 CFR.
On the other hand, business for chuck & blade from Uruguay was agreed at
US$ 4,200 CFR, round cuts over US$ 5,000 and trimming 80 VL in a range of US$
3,300-3,400. “We are optimistic about
China, beyond the logical stop they will have for the New Year and holidays in
February,” he added.
One trader handled other deals for brisket at US$ 2,700 CFR, rib plate at US$
3,800, shin & shank at US$ 5,800, and lamb carcasses at US$ 5,100. “The demand for sheepmeat
remains firm. Most exporters are sold”, assured another
operator.
Meanwhile, sources in Argentina handled deals for compensated cow at US$ 4,100
and trimmings between US$ 3,100 and 3,200, with importers and exporters still
concerned about possible sanitary measures due to COVID-19 that could
complicate the entire commercial process.
On the other hand, a broker assured that Hong Kong showed signs of reactivation
this week. Some importers asked to resume loadings from the end of this week to
arrive after the last holidays of February 20 in China.
