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.
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