Australian beef exporters noted improved interest in trimmings from Japan this week, influenced by increased buying from the US. In contrast, export prices for fullsets to Japan remained subdued, largely due to low demand for loin cuts across the domestic and export markets.
Japan’s beef consumption in January was up 8% year-on-year, according to the Agriculture and Livestock Industries Corporation of Japan. Imported beef consumption recorded strong growth, up 14% from last year to 36,961 tonnes boneless equivalent, while Japanese domestic beef increased slightly (up 2% to 27,856 tonnes). The lift in imported beef consumption was assisted by the strong performance of fast food businesses – namely hamburger and beef rice bowl restaurants – as well as yakiniku (Japanese/Korean barbeque) operations. Meat sales at retail were also steady in January, as consumers tightened their budgets and opted to eat at home more often.