The Japanese wholesale trade this week noted on slow movement of imported beef, as the market weathers the traditionally low demand period.
Yet, tight supplies of frozen US shortplate kept the price strong, averaging a historically high 1,050 yen/kg – 100 yen lower than last week, but 106% higher than a year ago.
The product’s shortage was largely caused by the import suspension of a major US plant last year.
The ban was removed in May but there have reportedly been a backlog of unfilled orders for Japan.
In Australia, the beef trading conditions remained tough with the bounce back of the A$ and soft demand across multiple markets.
Prices for high lean products were reportedly firm, while market expectation for 75CL and under eased from last week, as Japanese buyers were hesitant with the higher currency.
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