Higher US Beef Prices in Hong Kong
AUSTRALIA - Wholesale US beef prices in Hong Kong increased again during September, particularly for barbecue items, with supplies tightening following larger shipments of US product to Korea. Meanwhile, robust demand for Australian and New Zealand product continues to underpin strong returns from the market.
19 September 2008
1 minute read
US frozen chuck roll prices during September jumped 17% compared with the previous month, to HK$70/kg (A$11.00/kg) – 56% above the same time last year. Prices for US frozen boneless short rib also surged 40% year-on-year, to average HK$140/kg (A$22.01/kg). Reportedly, increased volumes of US chuck short ribs are being used as a substitute for boneless short ribs, with prices for frozen chuck short rib averaging only HK$50/kg (A$7.86/kg) – although this remains 47% above the same period last year.
Wholesale prices of Australian chilled tenderloin during September rose 7% compared with a year ago, to HK$145/kg (A$22.80/kg), with New Zealand chilled tenderloin values averaging 4% higher, at HK$140/kg (A$22.01/kg).
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