News and Events
30 Apr 2026
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Beef Market Outlook (Baptiste Buczinski)
Welcome to the Beef Market Outlook April 2026, your monthly overview of global beef markets and pricing trends. This edition reviews data from March 2026, examining recent developments in beef production, cattle pricing, and export activity across Europe, Brazil, China, and the United States. Through clear, data-led insights, we outline the main drivers shaping global supply and demand, trade flows, and overall market performance.
What were the global beef price trends in March 2026?
In March, European and US male prices decreased slightly but remained very high. Brazilian prices are 14% above Chinese ones, as China’s beef imports are still important.
How did beef prices and production evolve in Europe?
Male carcass prices fell in Europe by 3% MoM in USD (only by 1% in EUR), but remained 24% above 2025 levels. Prices edged down seasonally ahead of summer as winter beef consumption is higher in countries such as Germany, Italy and Greece. Slaughtering activity continued to decline in January 2026, down 5% YoY.
What is driving the US beef market in 2026?
In March, steer prices fell by 2% month on month but remained 15% above last year’s already elevated levels. February slaughterings declined by 7% year on year, partly due to the early announcement of a strike at a major JBS plant, which lasted from mid‑March through Easter.
Slower marketings have continued to push carcass weights higher, contributing to a 13% increase in US beef imports, notably from Australia (+7%, 213,000 cwt), as well as Mexico, Uruguay, Paraguay and Argentina. Imports from Brazil were unchanged year on year at 260,000 cwt. Meanwhile, beef exports dropped by 17% year on year, as shipments to China have yet to resume.
How is the Brazilian beef market performing?
Brazilian beef prices increased by 2% in a month in March and were 24% above 2025 level (US$). Brazilian beef production in 2025 hit a new record: 11 million cwe tons, +7% above 2024 level. Brazilian beef exports amounted to 940.000 cwe tons during 2026 first quarter, +18% year-over-year, but March exports increased by only 8% y-o-y. China & Hong Kong received 437.000 tons cwe, +16% /2025, even though China has set a maximum volume of tariff-free imports from Brazil.
Brazil sent 22% more meat to the US y-o-y, 45% more to other North American countries, 15% more to the Middle East and shippings to Egypt soared by 85%. War in the Middle East had limited impact on Brazilian shippings to the area (-1% y-o-y in March).
What is happening in the China beef market?
In China, beef prices were stable compared with February and stood 18% above 2025 levels, but only 6% above 2024. China´s beef production rose by 3% in 2025, as low prices pushed financially strained farmers to liquidate herds.
Since November, Chinese prices have remained below Brazilian levels, reflecting continued heavy imports, which increased again in March from Brazil (+7% year on year). Chinese meat exporters shipped 553,000 tonnes cwe to China in January–February, up 3% year on year. China’s GDP grew by 5% in 2025 and is expected to slow to around 4.5–5% in 2026, a pace insufficient to support stronger consumption growth.
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