July 31, 2006

Japan beef market shows little movement as it resumes US imports

Sales were fairly quiet to Japan this week, as Japanese importers are delaying buying until they are able to assess stocks after the peak demand period, Obon (mid August).

There was no immediate price impact from the lifting of the ban on the US product. Japan lifted the ban on US beef last Thursday.

Continued strength in the buying of Australian beef in other markets meant export prices for Australian beef in the Japanese market were steady to stronger this week.

While prices on the wholesale market were mixed, prices of grassfed and shortfed fullsets fell slightly.