September 7, 2007

More shortfed beef demand from Japan

Shortfed beef items received more interest from Japan this week as exporters are starting to secure limited supplies of the product. The current higher prices for shortfed items are expected to remain or even lift further for the reminder of the year.

In the Japanese wholesale market, the average price for chilled shortfed fullsets was 1,039 yen (US$9.01) per kilogramme (kg) this week - 69 yen or 7 percent higher than the same time last year. Rump prices averaged 24 percent higher than the previous year at 1,025 yen/kg. Grassfed fullsets traded at around 875 yen/kg - up 2 percent on 2006.

US$1 = 115.26 yen (as of September 7, 2007)