Tight supplies from both Australia and the US kept imported frozen beef prices firm in the Japanese wholesale market during November, while demand from end-users remained relatively slow.
Australian full brisket prices during the month strengthened to 543 yen/kg (up 2% from October and 12% higher than a year ago) and cow meat (85CL) to 533 yen/kg (up 6% and 8%, respectively).
US brisket prices were also higher, averaging 646 yen/kg for brisket (up 10% year-on-year) and 730 yen/kg (up 32%) for shortplate.
Reportedly, in-market stocks have been gradually eroded, as the market approaches the traditionally high meat demand season (December/early January).
Japans’ Agriculture and Livestock Industries Corporation (ALIC) forecasts frozen beef imports to reach approximately 18,800 tonnes swt in November (down 32% year-on-year) and 20,500 tonnes swt in December (down 25%).
