Record US Imported Beef Prices
AUSTRALIA -The effect of the significant decline in US beef imports during 2008 is finally being felt in the market, with US buyers desperate to secure product heading into the Memorial Day weekend (last weekend in May).
16 May 2008
1 minute read
Traditionally, the Memorial Day holiday period is the busiest weekend of the year for beef demand, signalling the start of the US grilling season.
Through to the second week of May, 2008 US beef imports of Australian and Uruguayan product were down 22% and 88% on last year, respectively, while imports from Canada were 9% lower. NZ beef imports were the only one recording an increase, up 6% year-on-year.
US import prices for Australia 90CL cow beef jumped another 4¢ or 2.5%, to 161US¢/lb CIF – 36% above last year. In A$ terms, 90CL cow beef prices increased 4% on last week, to 352.6A¢/kg FAS, with a slightly lower A$ contributing to the increase.
TheCattleSite News Desk
