August 3, 2009
US imported beef market stabilises
The US imported beef market this week saw imported lean manufacturing beef values remain relatively steady on last week if not slightly lower amid the seasonal decline in ground beef demand heading into August.
Recently, imported beef supplies in the US are limited. Therefore, overseas packers were reportedly not overly anxious to accept some of the lower bids being offered.
Imported 90CL cow beef, in US dollar terms, shed 0.5US¢ on last week, to average 134¢/lb CIF, while in A$ terms, prices dropped 1.5A¢, to 329.2A¢/kg FAS.
On the US domestic market, lean manufacturing beef prices have been declining since the start of July, despite cow slaughter for the first three weeks of July falling from June.
US wholesale fresh 90CL beef trim prices have fallen 1.3 percent since the start of the month.
