February 22, 2013

Japan's beef market reports tight supplies and firm prices

Japan's wholesale market has reported tight supplies and firm prices for frozen beef imports as buyers stay cautious during the slow demand period.

Most frozen items - both the US and Australian - averaged higher prices than a year ago, with the only exception being the US shortplate (which had been in very short supply in early 2012, due to an import suspension of a US plant).

Traders reportedly anticipate US beef under the revised rule to become 'readily available' by mid-March, however many are uncertain about prices, particularly with the weak Japanese yen.