Imported beef prices posted further declines in the US market during the past week. According to USDA’s weekly report, prices for products from Australia and New Zealand ranged from steady to slightly lower, with some instances of moderate declines. South American imported beef prices, meanwhile, moved moderately to sharply lower.
USDA indicated that weak demand from both the foodservice and retail sectors continues to weigh on the market. At the same time, supplies of South American beef remain readily available, particularly from Brazil, contributing to ongoing downward pressure on prices.
