Hitting More Records in the US
AUSTRALIA - Imported manufacturing beef in the US continued to trade at record prices this week. Not only has tight supply of imported product been a contributing factor, but also stronger demand for hamburger meat at retail outlets. US consumers have shifted away from foodservice purchases, as current economic conditions have resulted in growth in backyard grilling and retail sales.
14 July 2008
1 minute read
Import prices for Australian 90CL cow beef moved 54.7¢ higher, to a record 181US¢/lb CIF, 43% above last year. In A$ terms, Australian 90CL cow beef was 32% higher year-on-year, at 387.8A¢/kg FAS.
Total Australian beef exports in the US continue to be very much below year ago volumes, with June seeing a 6% drop on the same time last year to 16,166 tonnes swt. Australian chilled shipments dropped 23% year-on-year, to 2,773 tonnes swt, while frozen product fell a significant 42%, to 13,210 tonnes swt.
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