Ed Czerwien, USDA Market News reporter in Amarillo, TX, provides us with the latest outlook on boxed beef prices and the weekly cattle trade.
High beef prices and the higher value of the dollar are definitely attracting imports. This year we have seen an enormous increase in imports of fresh beef. The latest report of Imported Meat Passed for Entry into the U.S. for January 17 showed 24,230 metric tons of fresh beef were important. That equates to over 53 million lbs. for that week alone.
Year-to-date for the first three weeks of this year is running 52% higher for fresh beef imports, and Australia is up 84 %, providing the biggest individual chunk of the imports. New Zealand is up 46%, but they are still behind Canada in total tonnage.
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