June 23, 2008
High demand, low supplies boost frozen beef prices in Japan
Domestic and overseas beef demand coupled with limited supplies has boosted frozen beef prices in Japan.
Russia has renewed its interest in Japanese beef while Japan is receiving more orders due to the Obon holiday season on mid-August.
Export prices for frozen beef rose from last week, especially for blade and butt cuts that are popular in the Russian, Japanese and Korean markets. Demand for beef trimmings remain robust, with the US, Russian and Japanese buyers competing for 85 and 65CL product.
Domestic wholesale beef market trade has noted a steady demand for trimmings and shoulder cuts but slow trading.
