June 8, 2009
Depreciating US$ impact US beef import markets
Further depreciation of the US$ and lower domestic prices resulted to an erratic US beef import markets last week. Imported prices for lean trimmings were steady to lower than last week.
Although domestic prices typically lose ground following the Memorial Day holiday, this year's fall (10US¢/lb for 90CL) has been big than usual, causing some end users to lower bids for imported product.
While the dairy cow herd retirement program is underway, it has not had a significant impact on US cow slaughter rates to date. For the seven days ending 4 June, bull and cow slaughter reached 135,000 head, 2.3 percent above year ago levels.
