U.S. calmer due to Jewish New Year holidays

The U.S. import market was calmer at the start of this week due to the Jewish New Year holidays, which run until Wednesday, September 24, as many importers observe the religion, a regional trader explained to World Beef Report (WBR). Still, until last week, a “firmer” market was seen for imported trimming, although some “yellow flags” appeared due to two weeks of “consecutive declines” in domestic round cuts. “Generally, when that happens, processors tend to grind a greater volume of round and forequarter, which puts a ceiling on domestic 90 CL,” explained a trader. Even so, the source indicated that there is still a large gap (about 50 cents per pound) with imported Australian product values for a 90 CL.