July 27, 2009
CIF values on the rise in the US
CIF values in the US imported lean manufacturing beef market have steadily increased over the past five weeks.
Tight domestic and imported supplies have contributed to the price increases. Import prices for 90CL cow beef over the past five weeks have increase six US cents, with the indicator this week at 134.5 US¢/lb CIF.
However, in FOB Australian dollar terms, imported 90CL cow beef has bucked this trend as volatility in currency markets has seen prices drop slightly to 330.5A¢/kg FAS.
