Import Beef Prices Benefit From Limited Supply in US
AUSTRALIA - Import prices for Australian beef in the US were steady to slightly higher this week due to limited supplies, with the majority of December shipments likely to have been shipped. Prices for US domestic prices also strengthened during the week.
18 December 2009
1 minute read
CIF prices for Australian 90CL averaged 134US¢/lb CIF this week, up 1US¢/lb on last week. In A$ terms, prices increased 9.3A¢/kg to reach 301.2¢/kg FAS.
According to Meat and Livestock Australia, the latest US unemployment figures surprised commentators by dropping 0.2 per cent to 10 per cent. However, this is attributed to a reduction in the number of people registered as looking for work, with the current labour participation rate at 65 per cent – the lowest level for 24 years.
Feed supplies and prices remain a concern for US livestock producers, says Meat and Livestock Australia. Although corn and soybean prices have decreased after the highs of 2008, the ratio of livestock prices to feed is still below long term averages.
In brighter news, the latest National Restaurant Performance index has stabilised following declines in each of the previous three months.
TheCattleSite News Desk
