May 11, 2009
US imported beef prices up on tight supply
Prices in the US imported manufacturing beef market have increased due to tight domestic lean beef supplies.
In the past four weeks, US cow slaughter dropped about seven-percent below year ago levels, as dairy cow slaughter slowed.
The upward movement in the Australian dollar has added to volatility in the marketplace, with imported prices in Australian dollar terms dropping from last week. Reports indicate sellers are increasingly reluctant to offer product further forward until there is a sustained economic recovery.
The imported 90CL cow price in Australian dollar terms declined 3.6¢ to 334.8A¢/kg FAS. In US dollar terms it gained 3¢, to 126US¢/lb CIF.
