In the Japanese wholesale market this week, the trade noted on improving demand for yakiniku (Japanese/Korean style barbecue) and offal items, as the market goes through the summer season.
Prices for chilled US offal such as tongue and skirts are expected to strengthen, according to trade news.
Australian exports of beef and veal offal during July were up 10% year-on-year at 2,243 tonnes swt, underpinned by larger shipments of skirt (up 54% to 911 tonnes swt).
Tongue shipment declined 8% year-on-year, to 647 tonnes swt.
With regards to Australian beef export market this week, market prices for 85CL remained above Japanese buyer’s expectations, resulting in delayed buying decisions.
Quiet trade is expected next week, due to the traditional Obon holiday on 15 August.
In the international beef market, Japan’s Ministry of Agriculture, Forestry and Fisheries announced that the US will resume beef imports from Japan, ending the two-year suspension as a result of Foot-and-Mouth disease outbreak occurred in the Miyazaki prefecture of Japan in 2010.
Beef exports from Japan (mostly high value Wagyu beef) into the US during 2007 amounted to 127 tonnes swt, but declined to 72 tonnes in 2009 largely due to the strong Japanese yen and subdued US economy
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