June 13, 2011

Japanese beef trading with Australia stays sluggish

Australian beef trading with Japan stayed sluggish this week, with some progress in the number of enquiries from last week, but business seemed to have lacked spark in general.

The live export issue in Australia received attention from some Japanese buyers, with many taking a 'wait and see' attitude. Additionally, meat demand in the market has been particularly soft in recent weeks due to the rainy season.

In the Japanese wholesale market, the trade noted careful and limited buying of both imported and Japanese beef by end-users on the back of the slow demand season and subdued consumer spending. The Consumer Confidence Index released by the Japanese government this week, lifted 1.4% on month in May to 34.8%, but was still 8% lower compared with the same month in 2010.