US imported market trades weaker

US - Prices in the US imported lean manufacturing beef market fell 1–3US¢/lb CIF this week.
calendar icon 15 December 2006
clock icon 1 minute read

90CL cow beef fell 3US¢/lb on last week to 125.5US¢/lb. The weakness in the US domestic market for lean manufacturing product is impacting on imported beef prices. This week, imported 90CL cow beef was trading at an average premium of 3US¢/lb FOB to its domestic counterpart.

As at 11 December, US Customs Bureau entries of Australian beef reached 266,413 tonnes, 7% below the same time last year and only 70% of the quota. On 1 January 2007, Australia’s beef quota in the US will be raised by 20,000 tonnes to 398,214 tonnes.

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