October 16, 2007

Wholesale beef prices in Japan on the rise

Japanese wholesale prices for Australian chilled beef products started to climb this week due to possible tight supplies, reports Meat and Livestock Australia. Although stocks are reported to be high, wholesale prices of most items are expected to increase further.

Price hikes were seen in both grass and grain categories, with grass tenderloin lifting to 2,875 yen/kg or US$24.48 (up 100 yen from last week), and shortfed fullsets to 1,067 yen/kg or US$9.08 (up 40 yen).

Exporters reported similar or improved inquiries from Japan compared to the last couple of weeks, as few products are being made available or offered to the market. Beef exports to Japan in the first 10 days of October were only 9,398 tonnes.