Brazil's beef exports to China fell 20% month-on-month, putting pressure on the domestic market

Recently, the beef market ushered in a wave of significant gains, not only the domestic beef prices rose steadily, even the imported beef market also showed a trend of short supply.

From the domestic market, beef prices have been rising trend is very obvious.According to monitoring data from the Ministry of Agriculture and Rural Affairs, the average price of beef in wholesale markets for agricultural products across the country has risen for several days in a row.On February 8, although the "200 Index of Wholesale Price of Agricultural Products" declined slightly as a whole, the price of beef rose against the trend, rising by 0.2% from the previous day.The change reflects strong demand for beef from domestic consumers and a relatively tight market supply.

In the imported beef market, the situation is also not optimistic.Brazilian beef exports to China fell 20 per cent month-on-month to 91,200 tons in January, according to Brazilian customs statistics.This data has undoubtedly brought greater pressure to the domestic beef market.At the same time, the average export price of Brazilian beef rose 11.2% year-on-year to $5029 a ton.This means that even if Brazilian beef can be imported, its cost will increase significantly, further driving up beef prices in the domestic market.

Besides Brazil, other countries are also tightening beef exports.Bolivia has halted beef exports, while Mongolia has announced it will restrict domestic beef and mutton exports until June 1.These changes in the international market, there is no doubt that the domestic beef market has intensified the supply tension.

In this context, the domestic beef market shipments have improved, and the prices of each single product have also risen.Beef brisket, neck meat, millet dragon and other popular varieties of prices rose particularly significant, ton prices rose between 100-900 yuan.And like JBS and Marfring such mainstream imported beef brands, the price of its set has also risen to varying degrees.Among them, the price of JBS set has risen to about 44.8 yuan/kg, with an increase of 0.3 yuan/kg; while the price of Marfring set has remained stable, but it has also reached a high level of 42.5 yuan/kg.

Industry experts point out that the current beef market rally is the result of a variety of factors.On the one hand, domestic consumers 'demand for beef continues to be strong, especially during traditional festivals such as the Spring Festival, the supply exceeds the demand.On the other hand, the tight supply and rising costs in the international market have also exacerbated the tight supply situation in the domestic market.In addition, the policies of many countries to stop or restrict beef exports have further pushed up beef prices in the domestic market.