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US imported beef market gains ground
25 June 2015
The US imported beef market continued to gain ground this week, with improvements in most lean categories, according to this week’s survey of importers by the Steiner Consulting Group. The spread between domestic and imported lean beef remains wide, given the solid supplies from overseas and low domestic cow slaughter levels, although it is anticipated that the spread will start to narrow over the coming months.
The 90CL cow beef indicator lifted 1.5US¢ this week, to 222US¢/lb CIF (up 5.4A¢, to 632.1A¢/kg CIF), and all other lean categories also registered increases. Demand for trimmings, particularly 65CL product, has been reportedly weak.
The weekly report, collated by the Steiner Consulting Group for MLA, indicated that steady offerings from overseas suppliers, stronger demand from US end users and the seasonal decline in NZ cattle slaughter have contributed to the rise in imported beef prices in the past couple of weeks.
