November 29, 2012

Tight supplies from Australia and US have affected frozen beef import prices in Japan's wholesale market in November.

Australian full brisket prices during the month strengthened to US$6.61 per kilogramme (up 2% from October and 12% higher than a year ago) and cow meat (85CL) to US$6.49 per kilogramme (up 6% and 8%, respectively). US brisket prices were also higher, averaging US$7.87 per kilogramme for brisket (up 10% on-year) and US$8.89 per kilogramme (up 32%) for shortplate.

Reportedly, in-market stocks have been gradually eroded, as the market approaches the traditionally high meat demand season (December/early January). Japans' Agriculture and Livestock Industries Corporation (ALIC) forecasts frozen beef imports to reach approximately 18,800 tonnes in November (down 32% on-year) and 20,500 tonnes in December (down 25%).