US Imported Market Softens
US - The US imported market for lean manufacturing beef slowed down this week as demand for beef falls.
4 December 2009
1 minute read
Although imported supplies remain tight, beef demand continues to be soft. 90CL cow beef fell 1US¢ this week to 133.5US¢lb CIF, though prices remain 14 per cent higher compared with a year ago. Returns to Australian exporters for 90CL averaged 288.3A¢/kg FAS this week, with the high A$ seeing prices remain 20 per cent lower year-on-year.
Ground beef demand traditionally declines post Thanksgiving as retail stores place specials on hams, turkeys and roasts, according to experts at Meat and Livestock Australia. In the past, grinding beef has found some support at foodservice, with consumers out shopping more during the holidays. However, this year’s subdued economic conditions (with unemployment standing at 10 per cent) and the subsequent tightening in spending are affecting the holiday related demand.
TheCattleSite News Desk
