April 30, 2012

Interest in US beef was reportedly steady, with Japanese supermarkets still selling US beef, despite recent announcements by the USDA.

However, the trade continues to keep a very close eye on the issue, especially in relation to the BSE risk assessment by Japan's Food Safety Commission.

In the meantime, the beef trade has also been busy stocking products for the Golden Week (series of public holidays starting from April 29).

Pushed by short supplies and the anticipation for holiday demand, Australian frozen tongue averaged JPY1,450 (US$18.09) per kilogramme in the wholesale market this week, a jump from JPY990 (US12.35) per kilogramme last week and 44% higher than the same time last year.

In the Australian beef export market, the short trading week combined with the US news resulted in mixed results for trading with Japan. Chilled prices were not available this week due to limited quotes.