Weekly Market Reports

Beef Report for the week of August 30, 2010

Product Market Report

Beef production last week declined 2.1% and was 2.4% smaller than a year ago. June US beef exports were 19% more than last year and the 4th largest for any month since December 2003 when the first BSE infected cow was discovered in the US. Good export and Labor Day weekend demand is helping support beef prices. Many beef steak cut markets are anticipated to head lower next month. June US beef imports were the largest in fourteen months. Still, a continued devalued US dollar would be bearish for US beef imports and bullish for lean boneless beef prices.