US imported beef prices trading higher
08 June 2017
The availability of spot supplies in the US remains limited, as a result of robust domestic competition from end users looking to secure product and ongoing supply constraints from key suppliers.
The imported 90CL beef indicator lifted 3.4US¢ from week-ago levels, to 221.2US¢/lb CIF (up 7A¢, to 652.24A¢/kg CIF).
Limited supplies from Australia and New Zealand continue, and the approaching seasonal decline in New Zealand slaughter will further contract spot supplies. In addition, despite gaining access to supply frozen and chilled beef last year, shipments from Brazil into the market remain limited.
Steiner Consulting Group reports US domestic cow meat supplies often lower at this time of year and excellent pasture conditions across key cattle producing regions are underpinning tight supplies.
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