Rising Beef Prices Squeeze Carnivores From Buenos Aires to California | Investing News

By Agustin Geist, Tom Polansek and Ana Mano

BUENOS AIRES/CHICAGO/SAO PAULO (Reuters) – Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars.

Globally, the surge is contributing to the highest food prices since 2014, according to the United Nations food agency, hitting poorer consumers particularly hard as they struggle to recover from economic shutdowns triggered by the COVID-19 pandemic.

The rise in beef prices has been spurred by increasing demand from China, limited cattle supplies in some countries, a shortage of slaughterhouse workers and rising feed costs. The trend is starting to rattle supplier markets and impact policy.

Argentina, the second-biggest beef supplier to China after Brazil, on May 17 halted exports for a month as it grapples with runaway inflation. It blamed high demand from

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A Rare Menu That Tells the Truth: The Pork? Greasy. The Beef? Meh.

MONTREAL — Feigang Fei doesn’t like to boast about the orange beef at his restaurant in downtown Montreal. As a matter of fact, he doesn’t much like it.

“Comparing to our General Tao Chicken, this one is not THAT good,” reads the description on the online menu of his restaurant, Cuisine AuntDai, under a glossy photo of the deep-fried beef. “Anyway, I am not big fan of North American Chinese food and it’s your call.”

He’s no more enthused about the braised pork belly. “This is a very popular dish among the customers who don’t care its greasiness,” the menu says.

And Mr. Fei warns against ordering a cold dish called Mouth-watering chicken, made with diced chicken cubes, vinegar and Sichuan peppercorn sauce. “We are not 100% satisfied with the flavor now and it will get better really soon,” the menu advises, before quickly adding: “PS: I am surprised

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