June 22, 2009
Japan beef carcass prices on a decline
Prices of beef carcass have been weakening in Japan across all categories, according to reports from the Tokyo Meat Market.
The fall is most evident for the Wagyu, with top grade A5 steer recording the lowest daily since late 2001 to early 2002 following the discovery of BSE, at JPY1,909 per kg this week.
Prices started declining in early 2008, as the Japanese economy stagnated and supply gradually increased. The downward trend accelerated this year, particularly for the higher grade categories.
The drop in prices has assisted sales of Japanese domestic beef at the retail level, with sales data from Japan's Agriculture and Livestock Industries Corporation showing a consecutive year-on-year increase in purchase volumes for both Wagyu and Japanese dairy beef since February 2008.
