The Russian market has reportedly increased beef orders and offer prices, as tight supplies from South America and the country's recovering economy - driven by higher oil prices - have fuelled total beef imports.

The almost negligible current Argentinean supplies due to a partial export ban by the local government, the redirection of Brazilian shipments to the Middle East market, Uruguay's focus in the EU and the strengthening of the Russian rubles against the US dollars, have meant that Russia has to increasingly source other beef suppliers such as the US and Australia.

In South American beef trade, prices for forequarter beef cuts to Russia have increased in recent weeks, while hindquarter cuts face competition from the US. The US Meat Export Federation has reported strong increases in weekly shipments to Russia totalling between 800 and 1,200 tonnes.