The trade in Japan reported sluggish demand for all meats last week, largely due to the rainy season, as well as subdued spending by consumers.

Japan's Cabinet Office increased their GDP forecast for this Japanese fiscal year to 2.6% (from the earlier estimate of 1.4%). However, consumers are remaining conservative and tight-budgeted for now.

The Agricultural Ministry of Japan listed the 291st case of foot-and-mouth disease (FMD) in the Miyazaki prefecture on June 18 and there has been no new case confirmed so far. An increase in calf prices was reported in the Japanese livestock market recently, probably due to the temporary closure of cattle saleyards in Kyushu and Okinawa regions due to FMD.