Rains and the A$ lift prices for Japanese buyers
22/05/2009
Australian export prices of grassfed beef to Japan increased slightly this week in US$ terms, affected by both heavy rains in Queensland, and the gradually appreciating A$. Beef stocks in Japan are reportedly low, but buyers have been rather reserved, as they closely monitor the A$ and supply conditions.
In the Japanese wholesale market, the trade reported weaker interest in frozen imported beef, largely due to stagnant demand from the foodservice sector. On the other hand, demand for chilled beef remained firm, supported mainly by retail users. The average price of Australian chilled shortfed fullsets lifted 7% from last week to 825 yen/kg, while shortfed loin cut prices also saw some recovery this week. Australian chilled navel end briskets continued to be in strong demand, up 14% from last week to 925 yen/kg for shortfed (2% higher than the same time last year).
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