Beef production last week rose 2.4% but was 3.5% less than last year. September beef cow slaughter was 31% greater than the prior year but beef trimming prices have remained well above 2007 levels due to a slowdown in imports and strong trimming and grinds demand. If the dollar valuation

continues to appreciate, beef imports could expand in the coming months which would be bearish for trimming prices. However, strong demand is expected to support trimming prices above year ago levels into the winter.