JAPAN - Tight exportable beef supplies in Australia and the United States and the continued decline of Japanese beef production are exerting upward pressure on Japanese beef prices.
High prices in 2014 and through 2015 are expected to limit Japanese total beef consumption (imported and domestic) and to rebalance meat consumption towards lower-priced beef cuts and more pork / poultry.
Japanese importers should continue to face tougher competition, including from the United States, for limited global beef supplies.
Japanese frozen beef stockpiles should continue to unwind in 2014 and into 2015, further suppressing import demand.
It is unclear what impact implementation of the Australia-Japan Economic Partnership Agreement (EPA) will have on the beef market in 2015, as tight Australian supplies should push up export offer prices, countering the EPA’s scheduled tariff reductions.
You can view the USDA GAIN: Japan Livestock and Products Annual 2014 report by clicking here.
TheCattleSite News Desk
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