US imported beef prices stable
12 October 2017
US imported beef prices were steady this week, as a result of limited trading between overseas packers and US end users.
The imported 90CL beef indicator was unchanged from week-ago levels, at 209.5US¢/lb CIF (up 3A¢, to 594.08A¢/kg CIF).
US end users were reluctant to accept the higher asking prices on offer from overseas suppliers. Steiner Consulting Group report that, US end users noted higher asking prices from Australian suppliers, as improved weather conditions in some key cattle producing regions have supported a lift in Australian cattle prices.
The Eastern Young Cattle Indicator (EYCI) has increased 32¢ since the beginning of October – currently reported at 540¢/kg cwt.
Spot availability for grinding beef remains somewhat limited, with reduced supplies reported from both Australia and New Zealand. New Zealand cow slaughter continues to track under year-ago levels and is expected to do so through to early November. Robust retail features in the US have also underpinned the limited availability of spot supplies.
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