December 15, 2008

Imported beef prices in US rebound amid low supplies


US' imported beef prices bounced back last week (week ended Dec 12) after 12 weeks of declines in US$ terms, due to lower supplies in the market.


Still, US domestic lean trimmings prices have fallen.


Trading of imported beef in the US is cut back last week amid lower supplies in the market as the Australian processing operations slow down for the Christmas holiday period.


Prices are currently cushioned by tight spot supplies. Imported 90CL cow increased US2.5 cents two weeks ago to 120¢/lbs CIF. Imported 95CL bull increased significantly on two weeks ago by 0.146 cents.

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