Frozen Beef Stocks Remain High In Japan

JAPAN - In the Japanese market, imported frozen beef stocks during August increased from the previous month, and were up 20 per cent year-on-year, at 78,941 tonnes (boneless equivalent) - the highest since November 2002, reports Meat and Livestock Australia (MLA).
calendar icon 14 October 2011
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Meat & Livestock Australia

MLA reports that, in contrast, the chilled beef inventory was kept low at 8,287 tonnes (down 34 per cent from a year ago). This largely reflects the market's cautious attitude towards higher value products with shorter shelf life, given the current tough market situation (data released by the Agriculture and Livestock Industries Corporation of Japan).

In the Australian beef export market, the quick recovery of the A$ this week may have caught some Japanese buyers off guard.

Demand from the Australian domestic and emerging international markets remained firm despite the appreciation, challenging Japanese buyers to lift their price expectations. As a result, indicative prices of frozen items in US$ terms, briskets and CL items in particular, strengthened on the previous week.

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