eports out of the US this week continued to suggest that the imported beef market remains sluggish, with US buyers not willing to match the bids on offer by other markets for Australian beef. Adding to the hesitancy of US importers has been the higher than expected cow slaughter throughout spring, high inventory levels and very patchy demand signals heading into the Memorial Day weekendThe indicative price for Australian and NZ 90CL beef to the US this week was back another 3.5¢, to 181¢/lb, while the lower A$ help to sustain A$ returns at 386.1A¢/kg.
Australian beef exports for the first 20 days of May clearly illustrate the competitive positions that US buyers have found themselves in. With May on track to be one of Australia’s largest export months ever, if not the all-time record, exports to the US to 20 May only total 11,777 tonnes swt, compared to 13,062 tonnes swt to other Asia (predominately China).
Reports from both sides of the market continue to indicate that buyers from other markets are out bidding US buyers.
