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Imported Beef Not Feeling The US Heat

09 July 2010
Meat & Livestock Australia

US - As temperatures in the US soared over the Independence Day holiday weekend and into this week, imported beef prices and demand reportedly cooled, reports Meat and Livestock Australia.

Areas on the US east coast saw temperatures swelter up to 43 degrees Celsius this week, which counteracted an expected boost in consumers 'grilling' a large proportion of meat items such as hamburgers and rib eye steaks. Instead, consumers reportedly opted for lighter meals at the detriment of beef and lamb.

The imported beef market in the US traded lower this week, despite lighter volumes reportedly traded. The CIF indicator price for imported 90CL shed 1.5¢ on last week, to 147.5US¢/lb CIF, while in A$ terms the indicator dropped 18.2¢, to 341.6A¢/kg FAS.

Imported beef supplies still remain lower than year ago levels from Australia, New Zealand and Uruguay. However, over the past two months, Australian beef volumes to the US have lifted amid an increase in Australian beef production during May. Recently released figures for Australian beef exports to the US show June volumes jumping 12 per cent on the same time last year, to 24,434 tonnes swt, largely due to an increase in manufacturing and middle cut exports.

TheCattleSite News Desk



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