US - This week has seen most imported beef prices either holding steady or moving slightly higher following a few weeks of lower prices in the US.
The very lean 95CL bull beef was the key exception, with the re-emergence of NZ beef into the market.
According to Meat and Livestock Australia, the Steiner Consulting Group, in its weekly imported beef market report for MLA, made a note of how lean and grinding beef is usually cheaper in the US autumn and early winter, with more roasting cuts featuring in retail specials.
This year, so far, grinding beef prices have remained high – largely due to continuing strong demand for beef overall, and in particular for traditionally lower value end cuts from the chuck and round.
Steiner still expects beef prices to drift lower (although still historically high) until the end of the year, but to recover in early 2015, and then remain high through the year.
The indicative imported 90CL cow beef price was 0.5US¢/lb dearer this week, on 283.5US¢/lb CIF (up 3.7A¢, to 682.7A¢/kg FAS).
US feeder cattle were a little cheaper, but finished steers and heifers remained high.
Most cattle futures were also slightly higher than last week, although they continue to move up and down from day to day.
TheMeatSite News Desk