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Imported Beef Getting Dearer in US

28 July 2014
Meat & Livestock Australia

US - Prices being paid in the US imported beef spot market continued to increase this week, but domestically produced lean beef stalled, according to prices given in the Steiner Consulting Group’s most recent US Imported Beef Market report.

In contrast, US-produced fat trim continued to get dearer, contributing to an overall lift in the ‘meat block price’ – a combination of imported and domestic product, according to Meat and Livestock Australia.

The imported 90CL cow beef indicator jumped another 9.5US¢ this week, to 254US¢/lb CIF (up 17.4A¢, to 564.1A¢/kg FAS), in a very restricted market, with buyers chasing hard for limited supplies. In US-produced beef, 90CL beef was steady at 292US¢/lb, and 50CL beef lifted 13.5US¢ to 149.5US¢/lb. This combination has resulted in the 76CL ‘meat block’ (essentially a basis for hamburger patty formulations) reaching 233US¢/lb this week, more than 40 per cent higher than one year ago.

Cold stores of beef remain low in the US (see other story here) and there is little scope for increased cow and bull slaughter, to increase lean beef supplies, in the next few months.

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