May 25, 2009
US imported beef price loses momentum
After a boost in trading activity in the US imported beef market last week, trading volumes were lighter as Memorial Day orders begun winding down and imported beef offerings subsided.
The rising trend in imported beef prices stopped, with the market remaining relatively firm on last week in US dollar terms, while the appreciation in the Australian dollar saw FAS prices decline.
Reports indicate that imported beef supplies are falling, although shipments from Australia, New Zealand and Uruguay remain above year-ago levels.
While Australian beef supplies remain well above year-ago levels, offerings have started to drop from previous months as cattle slaughter begun to slow down and the Australian dollar continues to appreciate against the US dollar.
