September 23, 2009
US beef market stabilises on light imports and domestic stocks
The US imported market for lean manufacturing beef stabilised to slightly stronger this week, amid continued light imports and limited domestic frozen stocks.
The availability of Australian cuts in the US is also very limited, and the price has moved up in recent weeks due to lack of supply.
Frozen imported grinding beef continues to maintain a premium over the US domestic counterpart, with the premium this week at about USc11/lb.
Imported 90CL prices remained stable this week, averaging USc134/lb CIF. However, the strengthening Aussie dollar again negatively impacted returns to Australian exporters, with FAS prices falling Ac5.3/kg over the past week to Ac307.7/kg FAS.
US$1 = A$1.14097 (Sep 23)
