December 3, 2007

Quiet beef trading week for Japan

Beef trading in Japan was limited last week, as buyers avoided shipments to arrive during business closures and public holidays in Japan (last week of December to first week of January).

However, more market movement is expected to pick up next week, although it would be still limited by tight supplies and soft demand in the market.

In the wholesale frozen beef market, the average price of briskets fell 10 yen from last week to 510 yen/kg (US$4.61), down 23 percent compared with the same period last year.

The Japanese trade is forecasting the price of chicken and pork to lift in December. This could be favourable for beef, particularly if meat sales are good during the Christmas period (a seasonal peak demand time).

US$ 1= 110.57 yen (as of December 2)