November 16, 2006

Japan beef export demand still strong

Beef export demand for Japan remains strong, with some exporters already working on next year's supply of chilled product, according to analysts at Meat and Livestock Australia.

Buying activity for frozen product has also been positive and prices reportedly stronger than the same time last year.

Export prices for chilled grass-fed fullsets were slightly stronger over the last week, and prices for short-fed fullsets also rose by 8 percent on last year.

The wholesale beef prices for Japanese beef remained strong, with Wagyu meat prices increasing by 2 percent from last year. Prices for dairy beef pushed JPY24 (US$0.20) higher to JPY896/kg (US$5), a slight decrease on last year.

Exporters also noted that stocks were at low levels, with the Japanese market gearing up for the end of year peak demand period, according to MLA.