Outlook in the United States still unclear

Views on the US market are split. Some argue prices will keep rising because of tight cattle supplies and stronger futures, while others believe a ceiling has been reached and a correction is due. Before Trump’s tariffs, the domestic 90 CL price was widely expected to hit US$ 4.00/lb in May (it stood at US$ 3.80 at end March), but that never happened and the quote has even slipped to US$ 3.75. What did occur is that the gap with imported product narrowed: imported beef already in the US gained about 10 % (the extra tariffs apply only from 28 May for shipments made before 4 April). “The importer basically pocketed that 10 %,” a broker said.