September 4, 2007

Australian beef demand steady in South Korea after weeks of uncertainty

After weeks of uncertainty in a stop-start market, exporters have reported steady demand last week for Australian beef in South Korea.

Meat and Livestock Australia reports that demand was strong for chilled retail product and offal items. Although buying for the Chuseok peak demand period in September is ending, MLA expects ongoing demand for beef the rest of the year.

The previous uncertainty arose as importers were hesitant to place orders in anticipation of a lifting of restrictions on US beef.

But with US imports on an 'on-again-off-again' basis, Australian exporters have had to put up with stop-start demand.

The resumption of inspections of US beef last Monday has made some wholesalers again hesitant to stock more Australian product.

Prices for some Australian frozen cuts eased slightly as a result.