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Price rises take a break in US imported beef market
13 August 2015
Most prices in the US imported beef market were relatively close to firm this week – although fattier trimming products recorded a small increase, reversing recent movements. The Steiner Consulting Group, in their weekly report for MLA, noted that trading this week was relatively subdued, after a number of weeks of strong activity from buyers. This was the main reason for the lack of movement.
There is still a fairly large difference in price between US-produced lean beef and imported lean beef, but there is likely to be a narrowing over the next few months. However, the normal seasonal trend is for US beef to get cheaper rather than imported beef continuing to increase in price. Current prices of imported beef, when converted back into A$ terms, do remain historically high at the moment.
This week’s indicative imported 90CL cow beef price was 243US¢/lb CIF, down 0.5US¢ (down 4A¢, to 725.9A¢/kg CIF).
