US end users sit on the sideline
07 September 2017
US imported beef prices were steady to slightly lower this week, as a decline in domestic fed cattle prices has, for the short-term, resulted in subdued interest from US end users.
The imported 90CL beef indicator declined 0.50US¢ from week-ago levels, to 200US¢/lb CIF (down 4A¢, to 552.88A¢/kg CIF).
Demand from regular US end users has remained limited with the prospect of lower prices moving into the US autumn, a result of falling fed cattle and beef cut prices.
Steiner Consulting Group reports that imported grinding beef supplies for the last six weeks were 10% higher year-on-year, with increases from all supplying countries.
Domestic fresh beef prices remain robust, supported by the limited spot availability and competitive prices for beef product at a retail level. Steiner Consulting Group reports that the average retail feature price across the Labor Day weekend in 2014 and 2015 was US$3.60/lb., while last week it was US$3.10/lb.
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