US market remaining low as 2015 comes to a close
10 December 2015
The imported beef market in the US continued its downward trend this week, with buyers still holding relatively expensive stock that remains hard to move through supply chains. Consumer demand for beef, relative to the much cheaper chicken and pork available, has been more sluggish than hoped for in the lead-up to the holiday period.
The imported 90CL cow beef indicator dropped a further 3US¢ this week, to 184US¢/lb CIF (down 12.5A¢, to 552.8A¢/kg CIF). The Steiner Consulting Group report that there has been more New Zealand beef available in the imported market – the NZ bull kill for the season so far (1 October to 8 November – latest available) was 92% higher than the same time last year.
After the very slow November, there has been a marked increase in the beef trade to the US through the beginning of December. As at 9 December, Australian beef exports to the US had reached 14,218 tonnes swt – more than the November total.
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