June 2, 2008

US beef import market in stable condition
   

Trading of imported frozen beef in the US was steady last week, with lower prices and fewer supplies from major importing countries such as Australia, New Zealand and Uruguay.

Domestic lean grinding prices are expected to weaken and pressurise imported prices at this time of the year but it has not happened.

Imported prices are expected to fall but not to the same extent as it did in previous years, partly due to lower overseas supplies.

Domestic cattle supplies are higher than the corresponding period last year, as the US continues to liquidate its herd. US cattle slaughter went up 10 percent on-year.