April 23, 2007

US beef importers await steady markets

The US imported market for manufacturing beef remains quiet, as end users contend with appreciating overseas currencies and unstable US domestic prices.

Last week's surging 50CL trimmings prices (to near record levels) significantly changed the price of 73CL to 81CL grinding meat blocks. US fatty trim prices have since retreated, while domestic 90CL moved higher this week. This instability is causing end users to wait on the sidelines and opt to run down their inventories.