Prices of beef exports from Mercosur have fallen to the lowest levels since July 2021. The average export value of a tonne of beef reached $4,035 at the start of December.  July 21, 2021, was the last time the average price was so low.

Levels reached a historical high, $5,500 per tonne, in June 2022.

In the case of Brazil, export volumes to China were at high levels between August and October this year, with a monthly average of 138,000 tonnes. But in November, volumes plummeted to 94,000 tonnes.

The apparent easing of covid-19 restrictions in China should help increase beef demand in restaurants and this will soon consume stocks that have built up. 

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