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
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