Wednesday, 23 May 2012 09:29

Cheaper US beef imported prices ups buyer activity

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US end users of beef remain reluctant to buy too far forward and instead continue to play the spot market. 

Imported beef prices have come under some downward pressure recently and are still trading at a significant discount to fresh domestic beef. Some end users have seen the benefit of using imported beef because of its cheaper value and this resulted in some more activity in the imported beef market in the last week. While this has yet to flow through to much of an improvement in the imported market, it should be noted that the US cow kill continues to trend well below year ago levels. The jury is still out on whether imported volumes will be able to fill the gap, if not then we would expect this to positively influence US imported beef prices going forward.  

 

Market Brief by iFarm.co.nz

iFarm the leading source of agri-market prices, information and analysis for NZ farmers. Receive benchmark prices for the works, store and saleyard markets delivered direct to your inbox. Visit www.ifarm.co.nz or call 0508 873 283.

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