USDA Market News IMPORT BEEF TRADEThursday, Aug 7, 2003
(Australia and New Zealand) - Compared to Friday, price levels on import boneless beef started the week at slightly higher prices. However, as the week progressed prices became sharply higher. This increase was due to limited supplies, especially on spot delivery products which continued to be very light. A higher domestic market caused buying interest to be good. Plus, import prices continue to be at a better value than domestic. Traders covering shorts has also fuelled the higher trend.