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NEW YORK - Consumer confidence in U.S. beef appears to have remained high over the Memorial Day weekend, despite reports of a Canadian cow testing positive for BSE and record high wholesale prices for beef, leading industry analysts said this week.
Cattle-Fax, a leading economic and market analysis firm for the U.S. beef industry, said today the nation's leading retailers and distributors are reporting strong beef sales leading up to and through Memorial Day 2003. Memorial Day weekend is traditionally one of the strongest periods of the year for beef sales in U.S. supermarkets.
Keith Bollman, an analyst at Topco Associates, told Reuters this week that he believes most consumers consider U.S. beef to be safe, and that the beef they are buying is of U.S. origin.
Wholesale beef prices have continued to climb since May 8, each day setting new price highs for the last 12 out of 12 business days, indicating there has been no slowing of consumer demand.