Japan continues interest in grassfed beef

Australian exporters noted the continuing interest in grassfed beef from Japanese buyers this week, but supplies this year seem to have already been exhausted.

With uncertainties surrounding the Australian dollar, cattle supply and demand from key markets, both exporters and buyers are likely to embrace the fresh start in the new year, rather than make hurried commitments this month.

In the Japanese wholesale market, Australian chilled beef prices increased in most categories, particularly grassfed items.

Grass tenderloin was traded at around JPY2,750 (US$31)/kg, up 12% from last week, and 34% higher than 12 months ago. US chuck eye roll was also in strong demand, priced 7% higher than last week at JPY800(US$9)/kg (choice grade), but 13% lower than the same time last year, mainly due to the increased supply.