China’s Weak Beef Market Poses Risks for Chief Supplier Brazil

(Bloomberg) — China’s beef imports are dwindling amid slowing consumption and ample domestic supply, dealing a blow to its biggest supplier Brazil.

Official data show the value of China beef imports fell last year for the first time since at least 2016, with prices plunging to the lowest level in almost three years. Import volumes are seen dropping 4% this year, ending 12 straight years of meteoric rise, according to the U.S. Department of Agriculture.