Argentinian beef exports hit 18,000t for the month of May, which was a 40% increase compared with the same month last year. This brings Argentina’s beef exports for the first five months of 2017 to 76,800t, which is 18% ahead of last year.

Australian beef exports to South Korea increased to a record 180,000t in 2016, making South Korea Australia’s third-largest export market. However, due to declining beef production in Australia as a result of a smaller herd, there are fears US beef exporters could be about to steal market share.

Egypt, the world’s largest wheat importer, imported a further 175,000t of Romanian wheat last week for prices as high as $195/t. This brings total imports by Egypt for its 2017/18 wheat-buying season above 1m tonnes.

EU imports of New Zealand lamb are back 20% in the first four months of 2017. The decline in imports means there is a major shortage of New Zealand lamb in Europe right now, which has helped boost lamb prices across the continent. From March to June, lamb prices have increased 20% to €5.43/kg.