August 19, 2009

US imported beef market in subdued mood

The US imported beef market traded lower this week due to sporadic local demand, with imported beef in tight supply.

Buyer activity was mainly subdued as it was still too early for importers to stock up for beef requirements of the fourth quarter.

But activity was slightly boosted by the upcoming Labour Day on the first Monday of September, as end users looked to fill expected demand.

Imported 90CL cow beef in US dollar terms shed 3.5 cents per pound, down three percent on last week, to average 130 cents per pound CIF, while in Australian dollar terms prices dropped by two percent or 6.4cents per kg to 311.4 cents per kg FAS.

The start of the second dairy herd retirement round and its impact on overall cow slaughter is being closely monitored by the trade.