Limited Australian Beef in the US
AUSTRALIA - Tight supplies, a strong A$ and higher shipments to other markets, particularly in Asia, combined to limit Australian beef exports to the US in November.
11 December 2009
1 minute read
Exports to the US during the month fell 55 per cent year-on-year to 13,115 tonnes swt, according to analysts at Meat and Livestock Australia.
Australian beef and veal exports to the US in the first week in December were less than 2,500 tonnes. Last December, 25,000 tonnes of Australian beef was shipped to the US.
This week Australian 90CL prices averaged 133US¢/lb CIF, down 0.5US¢/lb on last week. In A$ terms, however, prices increased 3.6A¢/kg, thanks to an easing in the A$, to reach 291.9¢/kg FAS – 25 per cent lower than a year earlier.
New Zealand was relatively active in the market this week coinciding with its peak marketing season and packers trying to sell as much product before plant holiday closures.
Domestic grinding beef prices in the US were boosted by a decline in domestic cattle slaughter levels. These lower levels were attributed to some packing plants being unable to operate, with blizzard conditions across much of the Midwest and the Northern Plains regions.
While these slaughter reductions have not benefited cutout values, overall supplies of trim have fallen, especially fattier types (Steiner Consulting Group).
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