US Imported beef market holds steady
31 August 2017
US imported beef prices were unchanged this week as market participants take a wait-and-see approach to determine how business develops after the Labor day holiday. Trading volumes remain light as overseas packers and US end users continue to differ on price expectations.
The imported 90CL beef indicator remain unchanged from week-ago levels, at 200.50US¢/lb CIF (down 2A¢, to 556.46A¢/kg CIF).
Imported beef continues to trade at a significant discount to domestic beef. Steiner Consulting Group note that this is in part due to increased availability of manufacturing beef out of Australia.
Large US foodservice operators continue to report a decline in customer numbers. Steiner Consulting Group attribute this to a significantly greater number of outlets opening over the last few years.
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