NT Country Hour / By Matt Brann and Daniel Fitzgerald Posted 4hhours ago Argentina exported nearly 750,000 tonnes of beef in 2020.( Argentina has announced a snap 30-day ban on all beef exports and the decision is set have ramifications for the trade globally. Key points: The Argentinian government is attempting to lower local beef prices with 30-day export ban One analyst believes ban will put a lot of pressure on China Argentina exported about 750,000 metric tonnes of beef in 2020, the bulk of which went to China One of the world's biggest beef exporters, Argentina moved about $US3 billion worth of product in 2020, mostly to China. Independent analyst Simon Quilty said the ban appeared to be driven by upcoming national elections and a desire to lower domestic meat prices. "[Argentina has] had soaring beef prices as well as inflation … so the government is feeling the pressure and there's a need to try and win back the voter," he said. "So they've looked to this ban to effectively lower the cost of beef within Argentina." Yet more here...... https://www.abc.net.au/news/rural/2...ces-snap-30-day-ban-on-beef-exports/100147320
Big beef eater here. This weekend was the first time I noticed how much more I was paying for meat than I used to pay. I buy from a local butcher - great quality, and I am used to paying a higher price than I would buying from the beef bins in a grocery store. But when he gave me the total this weekend, I smiled and did a double take. "I know,": he said, shaking his head. Sounds like I better have an extra Benjamin in my wallet this coming weekend.
Socialist logic at its best. As if the farmers are going to sell cheapthis week instead of waiting a few weeks to get a much better price. The domestic prices might even increase…..
correct. I started a thread on socialist practices a few minutes ago, with link to the beef article. https://www.elitetrader.com/et/threads/socialist-solutions-are-not-the-solutions.358761/
You pain was mentioned in this week's cow blurb. Now I can finally see how live cattle numbers don't tell the whole story. https://www.elitetrader.com/et/threads/comments-from-the-cow-side-on-politics.340789/#post-5387290
Is Argentina's govt logic to flood the local market and starve overseas in order to raise export prices while diminishing local prices? In a free open market, this wont work, beef suppliers will sell to highest bidder. Raising export prices will cause local prices to rise as suppliers channel their prime beef overseas due to better price. I experienced this in NZ many years ago when Russia and Japan began buying NZ meat. Quality meat went offshore, there was nigh zero prime cut meat available locally and local prices of cheaper cuts rose. So, Argentina may starve overseas supply for 30 days, but the rubberband will soon enough hit them when prices rise.
Not the first time that Argentina completely bullocks up economics principles but whatever. We also have lefties spouting on about MMT so there you go.