Brazil on track to fill China beef export quota by May as prices hit all-time high

Brazil is set to exhaust its annual beef export quota to China by early May, industry officials said, as cattle prices hit a nominal record and Beijing’s import restrictions forced exporters across South America to scramble for alternative markets. The benchmark price for finished cattle tracked by the Centre for Advanced Studies on Applied Economics at the University of São Paulo reached R$365 (US$71.57) per arroba (per 11.5-15kg) on Wednesday, a gain of 12.5 per cent over the past 12 months...

By Igor Patrick