Market Report: Thursday, Feb 20, 2003
US IMPORT BEEF TRADE (Australia and New Zealand) Compared to Wednesday, import boneless beef delivering into the spot market was weak to lower as offerings were heavy. This was caused by light demand over the past month which caused freezer inventories to mound. However, out-front delivery prices were mostly steady as offerings overseas were light to moderate. This was due to supplies overseas being in good shape which was mainly due to the recent rains in Australia.