US imported beef market showing positive signs
28 January 2016
Lean beef prices in the US import market were higher across most categories this week, with lower supplies available in the spot market supporting bids for delivery over the next six weeks. The weekly report from Steiner Consulting Group notes that there is optimism regarding prices moving higher into spring (as reported last week), but this is tempered by expectations of large supplies of cattle and beef coming out of US feedlots in the second half of the year.
The indicative 90CL cow beef price was reported as 185US¢/lb CIF this week, up 5.5US¢ on last week (583.6A¢/kg CIF, up 13.6A¢).
Fat trim prices were reported cheaper this week, on plentiful supplies from domestic production, and NZ bull slaughter continues to decline after a fast start to the season. Both of these factors are positive for lean beef prices from Australia, allowing for higher prices for lean in ground beef mixes, and reducing competition for Australian product, respectively.
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