Required Report - public distribution

**Date:** 2/28/2006

**GAIN Report Number:** JA6009

JA6009

**Japan**

**Livestock and Products**

**Semiannual Report**

**2006**

**Approved by:**

![](media/image1.wmf)Clay Hamilton

U. S. Embassy

**Prepared by:**

Kakuyu Obara

**Report Highlights:**

The restart of the trade, which has been suspended just one month after
Japan's market reopening for U.S. beef last December, is primarily
pending with USG's submission of it's investigation report and GOJ's
acceptance (including specific measures to prevent recurrences). Suppose
the trade restarts by early second quarter (assumed in this report),
Japan's total imports in 2006 are expected to grow modestly by fresh
rejoining of U.S. beef, but dominance of Aussie beef and domestic beef
are expected to continue. Keys to forward the trade with Japan in 2006
are the price and availability of specific grain fed cuts offered by
U.S. On pork, abnormally large size of the year beginning stock is
expected to lower imports of the raw material frozen cuts for processing
substantially in 2006. On going government's cracking down on illegal
pork trade is adding some uncertainties over the processed products
market outlook. Some modest switch back from pork to beef is expected to
occur by come back of U.S. and Canadian beef.

Includes PSD Changes: Yes

Includes Trade Matrix: No

Semi-Annual Report

Tokyo \[JA1\]

\[JA\]

Table of Contents

[Beef Section 3](#beef-section)

[2006 Japan Beef Market Outlook 3](#japan-beef-market-outlook)

[Resumed Beef Trade Shambled By Import Suspension
3](#resumed-beef-trade-shambled-by-import-suspension)

[Reentering of U.S. and Canadian Beef to Modestly Raise Total Imports in
2006
4](#reentering-of-u.s.-and-canadian-beef-to-modestly-raise-total-imports-in-2006)

[Domestic Beef Production Forecast to Decline Slightly in 2006
5](#domestic-beef-production-forecast-to-decline-slightly-in-2006)

[For Restoring Normal Beef Trade, Revision Talks on the Current EV More
Compatible with International Standards Viewed Essential
5](#for-restoring-normal-beef-trade-revision-talks-on-the-current-ev-more-compatible-with-international-standards-viewed-essential)

[Chances Are Remote for Beef Safeguard (SG) Triggering in JFY 2006
5](#chances-are-remote-for-beef-safeguard-sg-triggering-in-jfy-2006)

[Table 1. Japanese Beef Safeguard Monitor for JFY 2005 and JFY 2006
6](#table-1.-japanese-beef-safeguard-monitor-for-jfy-2005-and-jfy-2006)

[2005 Situation Summary 7](#situation-summary)

[Beef Imports Bounced Back in 2005 and Aussie Grain Fed Did Well
7](#beef-imports-bounced-back-in-2005-and-aussie-grain-fed-did-well)

[Table 2. Japanese Household Consumption of Meat and Poultry
7](#table-2.-japanese-household-consumption-of-meat-and-poultry)

[Table 3. Japanese Monthly Beef Stock Estimates
8](#table-3.-japanese-monthly-beef-stock-estimates)

[Table 4. Annual Average Domestic Beef Carcass Price
9](#table-4.-annual-average-domestic-beef-carcass-price)

[Table 5. Annual Average Wholesales Price of Imported Beef (Chilled
Cuts)
10](#table-5.-annual-average-wholesales-price-of-imported-beef-chilled-cuts)

[Table 6. Annual Average Wholesale Price of Imported Beef (Frozen Cuts)
11](#table-6.-annual-average-wholesale-price-of-imported-beef-frozen-cuts)

[Table 7-a. Japanese Chilled and Frozen Beef Combined Imports 2005
12](#table-7-a.-japanese-chilled-and-frozen-beef-combined-imports-2005)

[Table 7-b. Japanese Chilled Beef Imports 2005
12](#table-7-b.-japanese-chilled-beef-imports-2005)

[Table 7-c. Japanese Frozen Beef Imports 2005
13](#table-7-c.-japanese-frozen-beef-imports-2005)

[Table 7-d. Japanese Imports of Prepared and Processed Beef Products
2005
13](#table-7-d.-japanese-imports-of-prepared-and-processed-beef-products-2005)

[Pork Section 14](#pork-section)

[Japan Pork Market Outlook 2006 14](#japan-pork-market-outlook-2006)

[Impacts of Market Reopening for U.S. Beef to Be Minor in 2006
14](#impacts-of-market-reopening-for-u.s.-beef-to-be-minor-in-2006)

[Abnormally High Carryover Frozen Stock to Cause Reduced Imports in 2006
14](#abnormally-high-carryover-frozen-stock-to-cause-reduced-imports-in-2006)

[GOJ Cracking Down on Illegal Pork Imports to Continue in 2006
15](#goj-cracking-down-on-illegal-pork-imports-to-continue-in-2006)

[Slightly Upward Domestic Hog Slaughter Projected in 2006
15](#slightly-upward-domestic-hog-slaughter-projected-in-2006)

[Table 8. Japanese Pork Safeguard Monitor for JFY 2005 and JFY 2006
15](#table-8.-japanese-pork-safeguard-monitor-for-jfy-2005-and-jfy-2006)

[2005 Situation Summary 16](#situation-summary-1)

[Total Pork Consumption Bound to Fall in 2005
16](#total-pork-consumption-bound-to-fall-in-2005)

[Table 9. Quarter and Annual Average Price of Domestic Pork Carcass in
2005
17](#table-9.-quarter-and-annual-average-price-of-domestic-pork-carcass-in-2005)

[Table 10. Japanese Monthly Pork Stock Estimates
18](#table-10.-japanese-monthly-pork-stock-estimates)

[Table 11-a. Japanese Chilled and Frozen Pork Combined Imports 2005
18](#table-11-a.-japanese-chilled-and-frozen-pork-combined-imports-2005)

[Table 11-b. Japanese Chilled Pork Imports 2005
18](#table-11-b.-japanese-chilled-pork-imports-2005)

[Table 11-c. Japanese Frozen Pork Imports 2005
19](#table-11-c.-japanese-frozen-pork-imports-2005)

[Table 11-d. Japanese Imports of Prepared and Processed Pork Products
2005
19](#table-11-d.-japanese-imports-of-prepared-and-processed-pork-products-2005)

[Cattle PS&D 21](#cattle-psd)

[Beef PS&D 22](#beef-psd)

[Swine PS&D 23](#swine-psd)

[Pork PS&D 24](#pork-psd)

**NOTES:**

In this report, post assumes the current import suspension (temporary)
on U.S. beef will be lifted sometime during the second quarter of CY
2006 (April -- June) in its forecast for the Japanese livestock market
outlook for CY 2006 (See 2006 Beef Market Outlook Section for more
details). Revisions will be made as developments warrant.

Please note that PS&D tables were prepared based on revised guidance for
the 2004 annual report (JA 4073), which incorporates imports of prepared
and processed beef and pork products into the total imports and the
consumption figures. Also note that the new PS&D figures in this report
are NOT OFFICIAL USDA DATA (Post added this statement based on a new
guidance from DL&P/FAS/USDA).

The conversion factors from Product Weight Equivalent (PWE) to Carcass
Weight Equivalent (CWE) are:

-   Beef and Pork (Generic): 1.43 (1/0.7)

-   Prepared and Processed Beef Products: 1.79 (1/056)

-   Prepared and Processed Pork Products: 1.43 (1/0.7)

Unless specified, volumes described in the text are on a CWE basis as
PS&D tables.

Import quantities referenced in discussions of the beef and pork
safeguards refer to customs clearance figures as announced by the
Government of Japan (GOJ). The safeguard (SG) is monitored and
implemented based on the Japanese fiscal year (JFY), which starts April
and ends March next year. Other discussions are all based on calendar
year (CY) unless it is specified in the text.

# Beef Section

## 2006 Japan Beef Market Outlook

### Resumed Beef Trade Shambled By Import Suspension

On December 11, 2005, Japan announced to reopen its market for U.S. and
Canadian beef under the Export Verification Program (EV).
Simultaneously, U.S. has announced to reopen its market for Japanese
Wagyu beef (in this instance, no age restriction). Following the
announcement, small quantities of air freighted U.S. chilled beef have
landed and made through customs clearance for initial promotions,
tasting and trials after two years of absence. Symbolizing the start of
two-way trade, small quantities of Wagyu beef happily made its way to
U.S. in January.

Then, just after one month of initial come back, the news on January 20,
2006 about Japan's announcement to suspend imports of U.S. beef again
due to finding of veal attached with vertebral column (defined as a SRM
in the EV) took Japanese market with a complete surprise and
disappointment. The incident was the one on non-compliance with the EV
program on the part of U.S. as reflected in USDA Secretary's early
announcement expressing his deep regret about the incident along with
corrective response measures (interim) taken effect immediately. Despite
the above, extensive and rather negative media reports about sloppiness
of U.S. inspection system were all over, which caused serious damage on
overall image on U.S. beef. Japan's lifting of the import suspension is
now pending with USG submission of its investigation report on the
incident (including specific measures to prevent recurrences) to GOJ
sometime soon. However, prevailing market and political sentiments,
which turned out rather emotional and negative so far, appear to be
making the timing of the resumption a little bit uncertain at present.

Furthermore, Japanese meat importers are left with difficult positions
as they are stuck with unsold beef returned by their clients and also
with the pipeline shipments held before clearing the customs and are
demanding US Meat Industry and USG to deal with the matter. What's at
stake now, according to Japan Meat Traders Association (JMTA), is that
their members are holding an estimated 1,366 MT of the shipments as of
January 31, which were not cleared the customs (at bonded warehouses, in
containers at ports, and en-route) and asking for accepting the return
of the pipeline shipments, including buyback and compensation. JMTA also
estimates their member share of the total imports is about 80%, thus,
the pipeline shipments before clearing the customs including non-members
could reach to 1,700 MT in total (1,366 multiplied by 1/0.8).

In light of the above, post is provisionally assuming the timing of
Japan's lifting of the import suspension to take place sometime by
spring this year upon completing all necessary talks and procedures to
restart the EV program again.

### Reentering of U.S. and Canadian Beef to Modestly Raise Total Imports in 2006 

Even the trade is resumed, most importers and end users feel the
incident dealt a major blow on overall image of U.S. beef and think it
will take even more time for U.S. to catch the pace than thought
earlier. That said, suppose the trade restarts by early second quarter
as assumed, there is a good chance that U.S. beef would be able to
contribute improving overall deficit supply condition prevailed over
last two years while still meeting the start of barbecue season in
Japan.

In light of the above, post made preliminary PS&D simulation for CY 2006
beef market. Total beef consumption is projected to increase by 4% to
1.237 million MT primarily due to increased imports. Rejoining of U.S.
and Canada is projected to raise the total imports by 5% to 737,000 MT
(Generic beef 693,000 MT and Prepared and processed Products, up by 2%
to 44,000 MT). Of the above generic total, imports of U.S. beef and
Canadian beef are projected at 50,000 MT (Share: 7%) and 7,143 MT (1%)
respectively each. \[Note: On product weight equivalent (PWE), U.S. and
Canadian generic beef volumes are 35,000 MT and 5,000 MT respectively
each.\]

Fairy modest switch back from Aussie and N.Z. to U.S. and Canada are
simulated, but the extent is totally dependent upon the price and
availability of specific cuts offered by U.S. When simulating the total
beef imports, post has incorporated some accounts that Aussie and N.Z.
beef production in 2006 will likely fall and their supplies for exports
may become tighter than last year.

Current prospects are 1) prices of imported beef are expected to stay at
relatively high and 2) availability of specific grain fed cuts will also
be limited as framed by conditions of the EV program (beef from animals
of 20 months of age or below, ether age verifiable or under carcass
evaluated A-40 or below) through 2006.

Other external factors affecting U.S. beef trade with Japan are 1)
reopening of other markets such as Korea and Taiwan, which would create
buying competitions of specific U.S. grain fed cuts with Japan and 2)
dollars relative strength against Japanese Yen is also a discouraging
factor Japanese buying of U.S. beef in 2006.

It is clear that Aussie beef, along with domestic beef, will continue
dominating Japan's beef dinning in 2006. U.S. will have to work extra
hard to regain confidence and trust from Japanese meat trade, businesses
and consumers by actively promoting positive image to correct some
faulty image held in this market.

### Domestic Beef Production Forecast to Decline Slightly in 2006

Domestic beef production in 2006 is forecast to decline slightly, down
by 1% from a year before level to 495,000 MT. Number of calves bone in
past several years point to modest increase in Wagyu slaughter in 2006,
but is expected more than offset by reduced slaughters of dairy breed.

### For Restoring Normal Beef Trade, Revision Talks on the Current EV More Compatible with International Standards Viewed Essential 

Despite the above setback on trade, it is still critical for U.S. to
persuade Japan to come to the terms on the issue in line with 2004
October shared understating, which is still alive. Japanese meat
industry would like to see Japan positively moving forward in adopting
international BSE standards sooner (on which OIE announced its revised
guideline to allow boneless beef trade regardless of the cattle age and
etc.) Recent news about moves by Asian countries such as Korea, Taiwan,
Singapore and Hong Kong etc. to reopen their markets for U.S. beef are
more in line with international guidelines without compromising their
food safety principle. This development will make stark contract to
Japan's current own standards on BSE that look prominently strict and
even potentially trade restrictive.

### Chances Are Remote for Beef Safeguard (SG) Triggering in JFY 2006

At the simulated level of imports, As described above, Japan's import
suspension on U.S. beef are currently putting in place safeguard issue
as a low profile one in the minds of Japanese meat trade and chances of
SG triggering in JFY 2006 is remote at present (See supplemental Note
below).

**\[Supplemental Note on Japan's Action to Change the Base Year of Beef
Safeguard Trigger Level Calculation\]**

*Where it stands:* On December 15, the Customs Tariff and Foreign
Exchange Control Council met and discussed the tariff package. In the
package, MAFF proposed to make a revision to the beef safeguard
provision, which constitutes a proposed amendment to the Temporary
Tariff Measure Law concerning the beef safeguard. The Council has
cleared the proposed change in the safeguard provision and made it's
deliberation to be forwarded for Diet approval during the ordinary
session to be held from mid January through March 2007. Pending Diet
approval, the implementation will start April 1 next year.

*What is revised:* For JFY 2006 (April 06 -- March 03), the base year to
calculate the safeguard trigger levels to be changed to the average
imports of JFY 2002 and JFY 2003 multiplied by 117%, instead of using
the previous year's imports of JFY 2005 multiplied by 117%.

Note the change will not be made on beef tariff duty level (in case of
triggering, the tariff will still bounce back to 50% bound duty from
38.5%).

The proposed change covers both chilled beef and frozen beef as per the
table below.

According to MAFF official, average of JFY 2002 and JFY 2003 figures
will be used to calculate respective quarterly trigger levels. However,
in case the trigger level based on the revised method for a certain
quarter is calculated below compared to the level based on the present
method (the previous year import multiplied by 1.17), whichever the
higher trigger level will be used. For example, the first quarter
trigger level for frozen beef in JFY 2006 is actually calculated lower
by 1,269 MT compared to the current method, thus the trigger level under
the current method will be used, which is 70,716 MT, instead of 69,447
MT (see the table below).

Thus, JFY 2006 1^st^ Qtr. trigger levels are calculated on customs
clearance basis by 4,612 MT higher for chilled beef and by 1,269 MT
higher for frozen beef when compared with the levels calculated before
the revision.

#### Table 1. Japanese Beef Safeguard Monitor for JFY 2005 and JFY 2006

  ---------------- ----------- ---------- ----------- ---------- -----------
  Unit: Metric Ton                                               
  (Product Weight                                                
  Basis)                                                         

  **Beef Safeguard                                               
  Trigger Levels                                                 
  for JFY 2005 and                                               
  Actual Imports                                                 
  (S17) **                                                       

  **Chilled Beef** **Trigger   **Cum.     **April**   **May**    **June**
                   Level**     Total**                           

                   Quarterly   Actual                             
                   Cum.        Entry                             

  I (Apr. - Jun.)  61,468      59,595     20,454      23,093     16,048

                                          July        August     September

  I -- II (Apr. -  128,217     121,556    27,765      18,540     15,656
  Sept.)                                                         

                                          October     November   December

  II - III (Apr. - 196,669     157,689    17,124      19,009      
  Dec.)                                                          

                                          January     February   March

  III - IV (Apr. - 258,145                                        
  Mar.)                                                          

                                                                  

  Frozen Beef      **Trigger   **Cum.     **April**   **May**    **June**
                   Level**     Total**                           

                   Quarterly   Actual                             
                   Cum.        Entry                             

  I (Apr. - Jun.)  64,859      60,441     25,262      24,955     10,224

                                          July        August     September

  I -- II (Apr. -  141,042     127,945    32,073      17,090     18,341
  Sept.)                                                         

                                          October     November   December

  II - III (Apr. - 202,817     160,957    15,925      17,087      
  Dec.)                                                          

                                          January     February   March

  III - IV (Apr. - 267,067                                        
  Mar.)                                                          

                                                                  

  **Beef Safeguard                                               
  Trigger Levels                                                 
  for JFY 2006 and                                               
  Actual Imports                                                 
  (S18) **                                                       

  **Chilled Beef** **Trigger   **Cum.     **April**   **May**    **June**
                   Level**     Total**                           

                   Quarterly   Actual                             
                   Cum.        Entry                             

  I (Apr. - Jun.)  74,338      0          0           0          0

                                          July        August     September

  I -- II (Apr. -  152,455     0          0           0          0
  Sept.)                                                         

                                                                  

  **Frozen Beef**  **Trigger   **Cum.     **April**   **May**    **June**
                   Level**     Total**                           

                   Quarterly   Actual                             
                   Cum.        Entry                             

  I (Apr. - Jun.)  70,716      0          0           0          0

                                          July        August     September

  I -- II (Apr. -  160,040     0          0           0          0
  Sept.)                                                         
  ---------------- ----------- ---------- ----------- ---------- -----------

Source: Ministry of Finance (ALIC Monthly Data)

Note: JFY 2006 I-II trigger levels are based on MAFF preliminary
calculation.

## 2005 Situation Summary

Revised cattle and beef PS&D figures for CY 2005 are constructed based
on preliminary production, trade and stock data available to date.

### Beef Imports Bounced Back in 2005 and Aussie Grain Fed Did Well

Total domestic beef consumption in 2005 is estimated to have increased
only slightly from a year before, up 1% to 1.195 million MT due to
continued tight supplies and high prices prevailed for both domestic and
imported beef (See table 4 and 5). Increased imports have more than
offset a 3% decline forecast for domestic beef production in 2005, which
has pushed overall consumption growth for the year. Total beef imports
in 2005 bounced back after going through a plunge in 2004, up 9% to
700,000 MT \[Generic beef: 657,000 MT, up 6% with Australia (Share:
89%), New Zealand (8%) and others such as Mexico and Chile (2%);
Prepared and Processed Beef: 43,000 MT, up 57% with China (Projected
Share: 44%) and Australia (33%).\] (See tables 7-a, 7-b, 7-c and 7-d)
Domestic cattle slaughter for beef was lower mainly because of reduced
slaughter of dairy and F1 cross breeds. Responding to strong market
demand and high prices for medium and lower grade domestic beef
prevailed in 2004, cattle producers sent their animals for slaughter
reportedly earlier than usual (See table 4). Throughout 2005, monthly
ending stocks remained relatively tight at around 90,000 MT level
reflecting overall tight beef supply condition (See table 3).

High prices of beef, coupled with continued tight supply, made the
household consumption recovery slower than anticipated in 2005 (See
table 2). Despite efforts made by Australia to boost their grain fed
supply (short fed), specific cuts suitable for home and outdoor
barbecue, which U.S. used to cater, said especially were short supplied.
During summer, media reported that retail prices of domestic cuts (loin
from representative dairy breed -- about 850 yens per 100 gram as
compared to 670 yens in the summer of 2003) frequently renewed its high
record in Tokyo. Household consumption has picked up later in 2005, but
overall it was clear that market is still suffering from chronic supply
tight situation caused by import ban on U.S. beef.

For the past few years, Aussie beef, with increased grain fed cuts, has
reportedly performed well in the retail with increased recognition among
consumers for safe and clean image and improved taste. Restaurants and
fast foods were mainly constrained by relatively high wholesale prices
of imported beef prevailed throughout the year (See table 5 and 6). They
have maintained diversified menu strategy.

#### Table 2. Japanese Household Consumption of Meat and Poultry

  ----------- ----------- ----------- ----------- ----------- ----------- -----------
  Unit: Grams                                                             
  per                                                                     
  Household                                                               

  2004        Beef        \% Chg.     Pork        \% Chg.     Chicken     \% Chg.

  Jan.        525         -14%        1,389       6%          850         -7%

  Feb.        520         -17%        1,447       11%         794         -14%

  Mar.        611         -10%        1,511       9%          776         -19%

  Apr.        573         -15%        1,427       3%          862         -10%

  May         618         -14%        1,458       5%          939         -4%

  Jun.        587         -18%        1,463       8%          884         -2%

  July        593         -9%         1,403       4%          795         -11%

  Aug.        663         -12%        1,443       7%          889         1%

  Sept.       535         -13%        1,353       2%          924         6%

  Oct.        599         -8%         1,499       8%          1,020       2%

  Nov.        555         -12%        1,448       3%          973         -6%

  Dec.        743         -6%         1,497       1%          1,235       -5%

  2005        Beef        \% Chg.     Pork        \% Chg.     Chicken     \% Chg.

  Jan.        575         10%         1,412       2%          939         11%

  Feb.        537         3%          1,375       -5%         927         17%

  Mar.        602         -1%         1,453       -4%         980         26%

  Apr.        579         1%          1,435       1%          943         9%

  May         651         5%          1,455       0%          1,004       7%

  Jun.        548         -7%         1,396       -5%         873         -1%

  July        545         -8%         1,351       -4%         860         8%

  Aug.        629         -5%         1,376       -5%         847         -5%

  Sept.       556         4%          1,403       4%          931         1%

  Oct.        612         2%          1,491       0%          990         -3%

  Nov.        589         6%          1,512       4%          1,026       5%

  Dec.                                                                    

  Source:                                                                 
  Meat and                                                                
  Livestock                                                               
  Daily,                                                                  
  January 11,                                                             
  Issue                                                                   
  ----------- ----------- ----------- ----------- ----------- ----------- -----------

#### Table 3. Japanese Monthly Beef Stock Estimates

  -------------- ---------- ---------- --------- ---------- --------- ---------- ---------
  Unit: Metric                                                                   
  Ton (Carcass                                                                   
  Equivalent)                                                                    

                 **2002**   **2003**   **%       **2004**   **%       **2005**   **%
                                       Chg.**               Chg.**               Chg.**

  Jan.           193,831    133,924    -31%      92,816     -31%      85,716     -8%

  Feb.           192,626    133,984    -30%      99,883     -25%      87,856     -12%

  Mar.           188,636    138,349    -27%      95,441     -31%      91,827     -4%

  Apr.           177,647    126,871    -29%      88,716     -30%      94,326     6%

  May            172,891    122,140    -29%      84,867     -31%      104,870    24%

  Jun.           171,276    115,050    -33%      83,976     -27%      107,107    28%

  Jul.           161,564    125,347    -22%      89,974     -28%      117,334    30%

  Aug.           158,119    114,453    -28%      95,267     -17%      113,109    19%

  Sept..         160,770    113,511    -29%      94,473     -17%      103,691    10%

  Oct.           146,539    117,189    -20%      90,754     -23%      96,687     7%

  Nov.           144,354    119,547    -17%      91,279     -24%      93,781     3%

  Dec.           128,636    109,487    -15%      89,390     -18%                  

  Source: ALIC                                                                   
  Monthly                                                                        
  Statistics                                                                     
  (Domestic and                                                                  
  Imports                                                                        
  Combined)                                                                      
  -------------- ---------- ---------- --------- ---------- --------- ---------- ---------

#### Table 4. Annual Average Domestic Beef Carcass Price

  ----------------------- --------- --------- --------- --------- ---------
  Unit: Yen per Kilogram                                          

  WAGYU STEER A-3 GRADE                                            

  CY Year/Month           1st Qtr.  2nd Qtr.  3rd Qtr.  4^th^     Yearly
                                                        Qtr.      Ave.

  2002                    887       1,208     1,505     1,724     1,331

  2003                    1,664     1,668     1,728     1,789     1,712

  \% Chg.                 88%       38%       15%       4%        29%

  2004                    1,740     1,875     1,897     1,953     1,866

  \% Chg.                 5%        12%       10%       9%        9%

  2005                    1,949     1,944     1,926     2,088     1,977

  \% Chg.                 12%       4%        2%        7%        6%

  Note: Wagyu steer                                               
  average slaughtering                                            
  age is about 30 months                                          
  old.                                                            

  WAGYU STEER A-2 GRADE                                            

  CY Year/Month           1st Qtr.  2nd Qtr.  3rd Qtr.  4^th^     Yearly
                                                        Qtr.      Ave.

  2002                    531       964       1,303     1,423     1,055

  2003                    1,380     1,403     1,476     1,518     1,444

  \% Chg.                 160%      46%       13%       7%        37%

  2004                    1,550     1,660     1,700     1,735     1,661

  \% Chg.                 12%       18%       15%       14%       15%

  2005                    1,730     1,712     1,672     1,804     1,729

  \% Chg.                 12%       3%        -2%       4%        4%

  Note: Wagyu steer                                               
  average slaughtering                                            
  age is about 30 months                                          
  old.                                                            

  Holstein Steer B-2                                              
  Grade                                                           

  CY Year/Month           1st Qtr.  2nd Qtr.  3rd Qtr.  4^th^     Yearly
                                                        Qtr.      Ave.

  2002                    166       325       515       671       420

  2003                    500       518       561       671       562

  \% Chg.                 201%      59%       9%        -0%       34%

  2004                    789       836       770       784       795

  \% Chg.                 58%       61%       37%       17%       41%

  2005                    828       836       786       875       831

  \% Chg.                 5%        0%        2%        12%       5%

  F1 Cross Breed Steer                                            
  B-3 GRADE                                                       

  CY Year/Month           1st Qtr.  2nd Qtr.  3rd Qtr.  4^th^     Yearly
                                                        Qtr.      Ave.

  2002                    453       737       1,148     1,330     917

  2003                    1,252     1,235     1,276     1,298     1,265

  \% Chg.                 177%      67%       11%       -2%       38%

  2004                    1,316     1,356     1,407     1,458     1,360

  \% Chg.                 5%        10%       10%       12%       7%

  2005                    1,494     1,497     1,498     1,529     1,496

  \% Chg.                 14%       10%       6%        5%        10%

  F1 Cross Breed Steer                                            
  B-2 GRADE                                                       

  CY Year/Month           1st Qtr.  2nd Qtr.  3rd Qtr.  4^th^     Yearly
                                                        Qtr.      Ave.

  2002                    304       579       947       1,056     722

  2003                    922       909       966       999       949

  \% Chg.                 203%      57%       2%        -5%       32%

  2004                    1,016     1,212     1,248     1,261     1,184

  \% Chg.                 10%       33%       29%       26%       25%

  2005                    1,292     1,345     1,320     1,341     1,324

  \% Chg.                 27%       11%       6%        6%        12%

  Source: MAFF                                                    
  ----------------------- --------- --------- --------- --------- ---------

#### Table 5. Annual Average Wholesales Price of Imported Beef (Chilled Cuts) 

  -------------- ----------- ----------- ----------- ----------- -----------
  Unit: Yen per                                                  
  Kg.                                                            

  Chilled Cuts                                                   

  Full Set,                                                      
  Aussie Beef,                                                   
  Chilled,                                                       
  (Short Grain                                                   
  Fed)                                                           

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           601         597         589         658         611

  2003           669         700         753         821         736

  \% Chg.        11%         17%         28%         25%         20%

  2004           920         869         835         864         872

  \% Chg.        38%         24%         11%         5%          18%

  2005           877         832         821         934         866

  \% Chg.        -5%         -4%         -2%         8%          -1%

  Full Set,                                                      
  Aussie Beef,                                                   
  Chilled,                                                       
  (Grass Fed)                                                    

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           563         510         489         602         541

  2003           631         615         643         725         654

  \% Chg.        12%         21%         31%         20%         21%

  2004           773         733         699         748         738

  \% Chg.        22%         19%         9%          3%          13%

  2005           771         672         664         786         723

  \% Chg.        -0%         -8%         -5%         5%          -2%

  Navel-end                                                      
  Brisket,                                                       
  Aussie Beef,                                                   
  Chilled                                                        

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           413         363         357         431         391

  2003           432         446         509         621         502

  \% Chg.        5%          23%         42%         44%         28%

  2004           759         958         737         712         792

  \% Chg.        76%         115%        45%         15%         58%

  2005           769         715         715         711         728

  \% Chg.        1%          -25%        -3%         -0%         -8%

  Strip Loin,                                                    
  Aussie Beef,                                                   
  Chilled                                                        

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           1,018       786         993         973         943

  2003           1,032       1,108       1,042       1,103       1,071

  \% Chg.        1%          41%         5%          13%         14%

  2004           1,289       1,177       1,185       1,245       1,224

  \% Chg.        25%         6%          14%         13%         14%

  2005           1,328       1,118       1,239       1,279       1,241

  \% Chg.        3%          -5%         5%          3%          1%

  Source: ALIC                                                   
  Monthly                                                        
  -------------- ----------- ----------- ----------- ----------- -----------

#### 

#### 

#### Table 6. Annual Average Wholesale Price of Imported Beef (Frozen Cuts)

  -------------- ----------- ----------- ----------- ----------- -----------
  Frozen Cuts                                                    

  Unit: Yen per                                                  
  Kg.                                                            

  Chuck & Blade,                                                 
  Aussie Beef,                                                   
  Frozen                                                         

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           416         411         370         412         402

  2003           419         405         425         450         425

  \% Chg.        1%          -1%         15%         9%          6%

  2004           520         517         552         584         543

  \% Chg.        24%         27%         30%         30%         28%

  2005           562         495         494         547         524

  \% Chg.        8%          -4%         -11%        -6%         -3%

  Top Side,                                                      
  Aussie Beef,                                                   
  Frozen                                                         

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           482         483         478         484         481

  2003           503         501         514         525         511

  \% Chg.        4%          4%          8%          8%          6%

  2004           570         508         538         583         550

  \% Chg.        13%         1%          5%          11%         8%

  2005           567         512         524         612         554

  \% Chg.        -0%         1%          -3%         5%          1%

  Trimming,                                                      
  Aussie Beef,                                                   
  Frozen                                                         

  CY Year/Month  1st Qtr.    2nd Qtr.    3rd Qtr.    4th Qtr.    Yearly Ave.

  2002           381         375         343         340         360

  2003           343         352         349         404         362

  \% Chg.        -10%        -6%         2%          19%         1%

  2004           417         432         445         464         440

  \% Chg.        22%         23%         28%         15%         21%

  2005           454         414         427         443         435

  \% Chg.        9%          -4%         -4%         -5%         -1%

  Source: ALIC                                                   
  Monthly                                                        
  -------------- ----------- ----------- ----------- ----------- -----------

#### Table 7-a. Japanese Chilled and Frozen Beef Combined Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Beef                                                                 
  (Chilled                                                             
  and Frozen                                                           
  Combined)                                                            

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    576,083   431,818   459,919   7%          100%

  1           Australia      283,698   394,068   411,360   4%          89%

  2           New Zealand    17,071    33,569    37,953    13%         8%

  3           Mexico         0         1,772     6,740     280%        1%

  4           Chile          0         665       2,942     342%        1%

  5           Vanuatu        573       448       534       19%         0%

  6           Costa Rica     0         4         196       5497%       0%

  7           Panama         0         3         146       4837%       0%

  8           United States  267,277   1,276     42        -97%        0%

  9           Canada         7,463     0         5         \-          0%

  10          Others         0         13        2         -87%        0%

  Product HS                                                           
  Code: HS                                                             
  0201, HS                                                             
  0202                                                                 

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 7-b. Japanese Chilled Beef Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Chilled                                                              
  Beef                                                                 

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    270,153   208,051   230,017   11%         100%

  1           Australia      150,956   203,618   222,892   9%          97%

  2           New Zealand    2,851     3,789     4,530     20%         2%

  3           Mexico         0         644       2,530     293%        1%

  4           United States  114,083   0         42        \-          0%

  5           Chile          0         0         18        \-          0%

  6           Canada         2,264     0         5         \-          0%

  7           Others         0         0         0         \-          0%

  Product HS                                                           
  Code: HS                                                             
  0201                                                                 

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 7-c. Japanese Frozen Beef Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Frozen Beef                                                          

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    305,930   223,766   229,902   3%          100%

  1           Australia      132,742   190,450   188,467   -1%         82%

  2           New Zealand    14,221    29,780    33,424    12%         15%

  3           Mexico         0         1,127     4,209     273%        2%

  4           Chile          0         665       2,924     339%        1%

  5           Vanuatu        573       448       534       19%         0%

  6           Costa Rica     0         4         196       5497%       0%

  7           Panama         0         3         146       4837%       0%

  8           Hungary        0         0         2         \-          0%

  9           Canada         5,199     0         0         \-          0%

  10          United States  153,194   1,276     0         -100%       0%

  11          Others         0         13        0         -100%       0%

  Product HS                                                           
  Code: HS                                                             
  0202                                                                 

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 7-d. Japanese Imports of Prepared and Processed Beef Products 2005

  ----------- ------------- ---------- ----------------- ---------- --------- ---------
  Processed                                                                   
  and                                                                         
  Prepared                                                                    
  Beef                                                                        
  Products                                                                    

  Unit:                                                                       
  Metric Ton                                                                  
  (Customs                                                                    
  Clearance                                                                   
  Basis)                                                                      

                                                                    \% Change \%

  Rank        Country       2003       2004              2005       \- 05/04  \- 05
                                                                    -         Share -

                            Jan/Dec    Jan/Dec           Jan/Dec    Jan/Dec   Jan/Dec

  0           \--World\--   15,032     16,223            23,524     45%       100%

  1           China         705        4,240             10,276     142%      44%

  2           Australia     5,426      8,299             7,775      -6%       33%

  3           Brazil        773        1,875             3,126      67%       13%

  4           New Zealand   980        1,105             1,302      18%       6%

  5           Thailand      107        488               589        21%       3%

  6           Argentina     45         164               391        138%      2%

  7           Others        6,995      51                65         28%       0%

  Product HS:                                                                 
  HS 0210.20                                                                  
  and HS                                                                      
  1602.50                                                                     

  Source of                                                                   
  data: Japan                                                                 
  Customs                                                                     
  (World                                                                      
  Trade                                                                       
  Atlas)                                                                      
  ----------- ------------- ---------- ----------------- ---------- --------- ---------

# Pork Section

## Japan Pork Market Outlook 2006

### Impacts of Market Reopening for U.S. Beef to Be Minor in 2006 

With Japan's market reopening for U.S. beef last December, it was
initially thought that Japanese pork market begins to feel the impacts
in 2006. However, as it stands, it will likely now take some time for
U.S. beef to recover from a major blow suffered recently (import
suspension) and reposition itself (See 2006 Beef Outlook Section).

### Abnormally High Carryover Frozen Stock to Cause Reduced Imports in 2006 

What's more problematic clouding Japan's pork market outlook in 2006 is
abnormally large year beginning stocks carried over from last year,
estimated at 300,000 MT (See 2005 Situation Summary Section). In simple
calculation, the figure represents close to a half of Japan's annual raw
material pork demand for domestically produced ham, bacon and sausage
products and about 8 months worth of the annual utilization of the
imports for processing. \[Note: Japan's annual utilization of raw
material pork for processing converted from PWE into CWE is at about
585,715 MT (Imported Pork at 464,285 MT and Domestic pork at 121,430
MT).\] The size could slow down imports of frozen cuts in 2006.

Once U.S. beef makes appearances after the second quarter in 2006, what
is likely to occur toward the year ending are, first, relatively small
replacement of pork to beef will likely start in the second half of
2006. Some of Danish and EU, U.S. and Canadian frozen pork cuts
temporary used in the food service sector for alternative dishes will be
partially replaced with beef dishes featuring U.S. beef cuts again.

Then, what's likely follow after is that the retail demand for domestic
pork and U.S. chilled pork will start to fall as U.S. beef begin to show
up in store shelves. This would certainly put downward pressure on
market prices of the domestic pork toward the year ending at the
projected increase for domestic production in 2006 (See the section on
domestic pork production). The situation may likely trim some of the
import demand for U.S. chilled pork later this year, too.

In light of the above, total pork consumption in 2006 is projected
marginally down compared to last year at 2.50 million MT. Total imports
are projected substantially lower by 10% at 1.20 million MT (down 12%
for generic pork at 1.10 million MT and up 11% for prepared and
processed products at 100,000 MT). A big slash in 2006 is mostly coming
from anticipated reduction in imports of the frozen raw material cuts
for processing utilization. At projected level of the imports, it is
highly unlikely Japan's pork safeguard will kick in by exceeding the
trigger levels which are calculated (on preliminary basis) substantially
high for JFY 2006 (See table 8).

At the projected imports and total consumption, the year ending stock in
2006 still comes to be relatively high at 260,000 MT representing about
7 months worth of the annual utilization of the imports for processing.
Post senses that it may take another year or two for Japanese pork
processors to compress further the abnormally large size stock
prevailing by lowering imports further in coming years.

All major frozen pork suppliers (Denmark, EU, Canada and U.S.) will be
affected with reduced import demand, particularly for frozen pork in
2006. Increased imports of prepared and processed products are mainly
owing to anticipated increase in imports of ground seasoned pork from
U.S., which are utilized for sausage manufacturing for the value segment
market (note: ad valorem rate is 20%).

### GOJ Cracking Down on Illegal Pork Imports to Continue in 2006 

As touched upon in JA 5053, GOJ has begun its review of the complex pork
import regime so called "Pork Differential Duty System" since last year.
The action is mainly in response to concerns raised in the Diet and
complaints from domestic producers over illegal activities involving
imports of raw material frozen pork (import duty evasion).

GOJ's serious cracking downs so far has resulted in uncovering series of
scandals, indictments and legal punishments involving
brokers/importers/processed products manufacturers last year. While the
investigation is reportedly still on-going, GOJ is now requiring
domestic meat trade and industry to strictly comply with the system,
which, in the end, will likely raise average buying prices of imported
frozen cuts and most likely end up with accumulation of frozen cuts not
in actual demand. It looks that prevailing circumstances are casting
great uncertainties on the future pork trade with Japan in coming years.

Japanese meat trade and meat industry have been requesting GOJ to
replace the current complex system to a simple one, either a specific
duty by weight (preferred option) or an ad valorem duty as most
transparent and fair solution to this complex issue soonest possible.
This position has reportedly met with strong oppositions by domestic
producer groups, who are for maintaining the system as the way to
protect them.

Above development, if left as is, would probably force domestic ham and
sausage makers to go through some major restructuring with options
either to increase the price of their products or to absorb the
increased cost or to invest abroad to make some products at less costs
(a long run solution) or to implement all of the above.

### Slightly Upward Domestic Hog Slaughter Projected in 2006 

According to swine inventory as of August 1^st^ 2005 just released by
Japan Pork Producer Association, domestic sow number was 915,000 heads,
slightly up from year beginning, number of hog farms were 7,731, down
5.3% due to continued exiting out of smaller scale operators. The data
point to increased pig crops, which will likely contribute increased hog
slaughter in the second half of 2006 adding to flat output compared to
last year forecast in the first half. This makes post's forecast for the
total pork output forecast in 2006 to be slightly above the last year
level at 1.26 million MT.

#### Table 8. Japanese Pork Safeguard Monitor for JFY 2005 and JFY 2006

  ----------------- ----------- ---------- ----------- ---------- -----------
  Unit: Metric Ton                                                
  (Product Weight                                                 
  Basis)                                                          

  **Pork Safeguard                                                
  Trigger Levels                                                  
  for JFY 2005 and                                                
  Actual                                                          
  Imports (S17)**                                                 

  ** **             **Trigger   **Cum.     **April**   **May**    **June**
                    Level**     Total**                           

                    Quarterly   Actual                             
                    Cum.        Entry                             

  I (Apr. - Jun.)   307,305     288,909    139,203     86,343     63,363

                                           July        August     September

  I - II (Apr. --   549,947     520,966    94,082      71,978     65,997
  Sept.)                                                          

                                           October     November   December

  II - III (Apr. -  758,902     648,879    62,537      65,376     0
  Dec.)                                                           

                                           January     February   March

  III - IV (Apr. -  953,153     648,879    0           0          0
  Mar.)                                                           

                                                                  

                                                                  

  **Pork Safeguard                                                
  Trigger Levels                                                  
  for JFY 2006 and                                                
  Actual Imports                                                  
  (S18) **                                                        

  ** **             **Trigger   **Cum.     **April**   **May**    **June**
                    Level**     Total**                           

                    Quarterly   Actual                             
                    Cum.        Entry                             

  I (Apr. - Jun.)   335,369     0          0           0          0

                                           July        August     September

  I - II (Apr. -    589,111     0          0           0          0
  Sept.)                                                          
  ----------------- ----------- ---------- ----------- ---------- -----------

Source: Ministry of Finance (ALIC Monthly Data)

Note: JFY 2006 I-II trigger levels are preliminary (average imports of
three preceding years multiplied by 1.19).

## 2005 Situation Summary

Revised swine and pork PS&D figures for CY 2005 are constructed based on
preliminary production, trade and stock data available to date.

### Total Pork Consumption Bound to Fall in 2005

Total domestic pork consumption is estimated to level off in 2005, down
by 2% to 2.510 million MT after enjoying an unusual surge previous year.
Overall meat consumption shifted to pork altering expensive and tight
supplied beef in 2004. The situation benefited domestic producers
bringing relatively good prices than average years through 2005 (See
table 9).

Total imports kept growing (more than actual demand) in 2005 by renewing
a record established last year, up 3% to 1.337 million MT \[Generic
pork: 1,247,000 MT, up 1% with U.S. (Share: 30%), Denmark (29%), Canada
(22%) and Mexico (4%) and others being mostly EU (14%); Prepared and
Processed Pork: 90,000 MT, up 34% with U.S. (Share: 48%), Canada (27%)
and China (14%).\] (See tables 11-a, 11-b, 11-c and 11-d)

For the first time in 2005, no pork safeguard was triggered in 2005 due
partly to high enough trigger levels in JFY 2005 (See table 8) and
partly to some turmoil in the trade caused by major cracking downs by
GOJ on illegal pork imports noted in the Outlook Section earlier.
Unexpectedly, monthly import levels, especially of raw material frozen
pork, did not come down as anticipated and kept at high pace in the
second half, clearly outpacing actual demand. This has caused the stocks
piling up toward the year ending at an estimated 300,000 MT, 35% above
the year beginning level (See table 10).

Imported chilled pork accounted 23% of Japan's total generic pork
imports and grew 4%, mainly supplied by U.S., Canada and Mexico.
Imported chilled pork cuts have done relatively well by filling in
reduced fresh/chilled domestic pork supplies in both retail and food
service sectors (See table 11-b). Imported frozen pork accounted the
rest and the volume was relatively high keeping the same level as the
previous year (See table 11-c). Increased imports from U.S., Chile and
Canada and some others such as Mexico, Ireland and Austria are evenly
offset by a dip in imports from Denmark and some other EU countries,
which may be partly a function of exchange rates, relative local prices
and ability to supply cuts to meet Japan's processing market demand
prevailed in 2005. Substantial growth, up 36%, in imports of the
prepared and processed products for the year is largely owing to
increased imports of seasoned ground pork (raw materials for sausages)
from U.S. and Canada. Stricter compliance with the import system said to
have made it difficult for meat trade to arrange procurements of
inexpensive frozen picnic for sausage making, which may have contributed
increased seasoned ground pork imports in 2005.

In 2005, domestic hog slaughter and pork production are projected down
2% each to 16.255 million heads and to 1.250 million MT reflecting
slightly smaller number of sows compared to the previous year.

#### Table 9. Quarter and Annual Average Price of Domestic Pork Carcass in 2005

  ---------------- --------- ---------- ---------- ---------- --------------
  Category by Meat                                            
  Grade (Tokyo                                                
  Market)                                                     

  **Excellent                                                 
  Grade **                                                    

  **Year/Month**   **1st     **2nd      **3rd      **4th      **Yearly
                   Qtr.**    Qtr.**     Qtr.**     Qtr.**     Ave.**

  2000             414       447        510        373        436

  2001             434       484        506        506        482

  %chg             5%        8%         -1%        35%        11%

  2002             498       559        510        396        491

  \% chg           15%       16%        1%         -22%       2%

  2003             413       460        426        397        424

  \% chg           -17%      -18%       -16%       0%         -14%

  2004             498       487        523        424        483

  \% chg           21%       6%         23%        7%         14%

  2005             472       496        509        443        480

  \% chg           -5%       2%         -3%        4%         -1%

                                                               

  **Medium                                                    
  Grade **                                                    

  **Year/Month**   **1st     **2nd      **3rd      **4th      **Yearly
                   Qtr.**    Qtr.**     Qtr.**     Qtr.**     Ave.**

  2000             367       406        455        321        387

  2001             395       448        469        476        447

  %chg             8%        10%        3%         48%        15%

  2002             459       525        469        355        452

  \% chg           16%       17%        0%         -25%       1%

  2003             362       408        359        332        365

  \% chg           -21%      -22%       -23%       -7%        -19%

  2004             438       427        465        381        428

  \% chg           21%       5%         29%        15%        17%

  2005             426       464        482        416        447

  \% chg           -3%       9%         4%         9%         5%

  Source: MAFF                                                
  Meat Statistics,                                            
  ALIC Monthly                                                
  Statistics                                                  
  ---------------- --------- ---------- ---------- ---------- --------------

#### Table 10. Japanese Monthly Pork Stock Estimates

  ---------------- ---------- ---------- -------- ---------- -------- ---------- --------
  Unit: Metric Ton                                                               
  (Carcass                                                                       
  Equivalent)                                                                    

  **Month/Year**   **2002**   **2003**   **%      **2004**   **%      **2005**   **%
                                         Chg.**              Chg.**              Chg.**

  Jan.             187,276    210,374    12%      212,876    1%       242,553    14%

  Feb.             196,929    209,909    7%       209,590    -0%      247,297    18%

  Mar.             205,100    202,273    -1%      215,531    7%       253,109    17%

  Apr.             220,861    239,071    8%       259,394    9%       300,199    16%

  May              226,903    257,789    14%      295,539    15%      326,394    10%

  Jun.             216,370    252,813    17%      315,399    25%      324,949    3%

  Jul.             251,339    303,764    21%      334,969    10%      344,059    3%

  Aug.             225,249    272,654    21%      304,363    12%      338,291    11%

  Sept.            209,839    253,967    21%      273,546    8%       322,837    18%

  Oct.             196,200    233,366    19%      244,701    5%       327,361    34%

  Nov.             197,524    221,971    12%      225,691    2%       321,483    42%

  Dec.             190,570    210,947    11%      222,780    6%                  

  Source: ALIC                                                                   
  Monthly                                                                        
  Statistics                                                                     
  ---------------- ---------- ---------- -------- ---------- -------- ---------- --------

#### Table 11-a. Japanese Chilled and Frozen Pork Combined Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Pork                                                                 
  (Chilled                                                             
  and Frozen                                                           
  Combined)                                                            

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    752,601   863,801   873,115   1%          100%

  1           United States  245,428   256,110   287,909   12%         33%

  2           Denmark        219,909   267,695   230,976   -14%        26%

  3           Canada         166,604   184,916   195,235   6%          22%

  4           Chile          28,189    38,954    51,717    33%         6%

  5           Mexico         34,474    32,665    35,189    8%          4%

  6           Hungary        14,414    17,257    17,350    1%          2%

  7           Austria        2,973     9,093     12,543    38%         1%

  8           Ireland        5,368     8,580     11,179    30%         1%

  9           France         5,753     12,071    10,296    -15%        1%

  10          Others         29,490    36,461    20,721    -43%        2%

  Product HS                                                           
  Code: HS                                                             
  0203                                                                 

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 11-b. Japanese Chilled Pork Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Chilled                                                              
  Pork                                                                 

   Unit:                                                               
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    174,328   193,575   201,671   4%          100%

  1           United States  120,168   137,298   145,861   6%          72%

  2           Canada         35,078    39,449    42,838    9%          21%

  3           Mexico         9,338     9,597     10,531    10%         5%

  4           Australia      9,466     6,755     2,173     -68%        1%

  5           Denmark        242       340       213       -37%        0%

  6           Others         38        137       55        -59%        0%

  Product HS                                                           
  Code: HS                                                             
  0203.11, HS                                                          
  0203.12 and                                                          
  HS 0203.19                                                           

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 11-c. Japanese Frozen Pork Imports 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Frozen Pork                                                          

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    578,273   670,226   671,444   0%          100%

  1           Denmark        219,667   267,355   230,763   -14%        34%

  2           Canada         131,527   145,467   152,398   5%          23%

  3           United States  125,261   118,812   142,048   20%         21%

  4           Chile          28,189    38,954    51,716    33%         8%

  5           Mexico         25,136    23,068    24,658    7%          4%

  6           Hungary        14,414    17,257    17,350    1%          3%

  7           Austria        2,973     9,093     12,543    38%         2%

  8           Ireland        5,368     8,580     11,179    30%         2%

  9           France         5,753     12,065    10,287    -15%        2%

  10          Others         19,986    29,575    18,502    -37%        3%

  Product HS                                                           
  Code: HS                                                             
  0203.21, HS                                                          
  0203.22 and                                                          
  HS 0203.29                                                           

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

#### Table 11-d. Japanese Imports of Prepared and Processed Pork Products 2005

  ----------- -------------- --------- --------- --------- ----------- -------------
  Prepared                                                             
  and                                                                  
  Processed                                                            
  Pork                                                                 
  Products                                                             

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clarence                                                             
  Basis)                                                               

                                                           \% Change   \%

  Rank        Country        2003      2004      2005      \- 05/04 -  \- 05 Share -

                             Jan/Dec   Jan/Dec   Jan/Dec   Jan/Dec     Jan/Dec

  0           \--World\--    39,597    46,513    63,067    36%         100%

  1           United States  24,329    24,601    30,114    22%         48%

  2           Canada         7,350     9,033     16,672    85%         26%

  3           China          4,406     8,965     9,326     4%          15%

  4           Denmark        1,225     1,123     2,063     84%         3%

  5           Chile          0         208       1,678     707%        3%

  6           Italy          959       933       1,102     18%         2%

  7           Others         1,329     1,649     2,112     28%         3%

  Product HS                                                           
  Code: HS                                                             
  0210.11, HS                                                          
  0210.12, HS                                                          
  0210.19, HS                                                          
  1602.41 and                                                          
  HS 1602.42                                                           

  Source of                                                            
  data: Japan                                                          
  Customs                                                              
  (World                                                               
  Trade                                                                
  Atlas)                                                               
  ----------- -------------- --------- --------- --------- ----------- -------------

## Cattle PS&D

+------------------+------+------+------+------+------+------+--------+
| Japan            |      |      |      |      |      |      |        |
|                  |      |      |      |      |      |      |        |
| Animal Numbers,  |      |      |      |      |      |      |        |
| Cattle           |      |      |      |      |      |      |        |
+------------------+------+------+------+------+------+------+--------+
|                  | 2004 | Rev  | 2005 | Esti | 2006 | Fore | UOM    |
|                  |      | ised |      | mate |      | cast |        |
+------------------+------+------+------+------+------+------+--------+
|                  | USDA | Post | USDA | Post | USDA | Post |        |
|                  | Offi | Esti | Offi | Esti | Offi | Esti |        |
|                  | cial | mate | cial | mate | cial | mate |        |
|                  | \[O  |      | \[O  |      | \[O  |      |        |
|                  | ld\] | \[N  | ld\] | \[N  | ld\] | \[N  |        |
|                  |      | ew\] |      | ew\] |      | ew\] |        |
+------------------+------+------+------+------+------+------+--------+
| Market Year      |      | 01/  |      | 01/  |      | 01/  | M      |
| Begin            |      | 2004 |      | 2005 |      | 2006 | M/YYYY |
+------------------+------+------+------+------+------+------+--------+
| Total Cattle     | 4478 | 4478 | 4401 | 4401 | 4340 | 4350 | (1000  |
| Beg. Stks        |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Dairy Cows Beg.  | 936  | 936  | 910  | 910  | 900  | 909  | (1000  |
| Stks             |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Beef Cows Beg.   | 624  | 624  | 623  | 623  | 620  | 620  | (1000  |
| Stocks           |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Production (Calf | 1425 | 1415 | 1375 | 1385 | 1360 | 1375 | (1000  |
| Crop)            |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Intra EC Imports | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Total Imports    | 21   | 21   | 22   | 22   | 22   | 22   | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| TOTAL Imports    | 21   | 21   | 22   | 22   | 22   | 22   | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| TOTAL SUPPLY     | 5924 | 5914 | 5798 | 5808 | 5722 | 5747 | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Intra EC Exports | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Total Exports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| TOTAL Exports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Cow Slaughter    | 574  | 574  | 560  | 560  | 550  | 550  | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Calf Slaughter   | 10   | 10   | 10   | 10   | 10   | 10   | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Other Slaughter  | 681  | 681  | 660  | 660  | 660  | 660  | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Total Slaughter  | 1265 | 1265 | 1230 | 1230 | 1220 | 1220 | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Loss             | 258  | 248  | 228  | 228  | 225  | 227  | (1000  |
|                  |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Ending           | 4401 | 4401 | 4340 | 4350 | 4277 | 4300 | (1000  |
| Inventories      |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| TOTAL            | 5924 | 5914 | 5798 | 5808 | 5722 | 5747 | (1000  |
| DISTRIBUTION     |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Calendar Yr.     | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
| Imp. from U.S.   |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+
| Calendar Yr.     | 0    | 0    | 0    | 0    | 0    | 0    | (1000  |
| Exp. to U.S.     |      |      |      |      |      |      | HEAD)  |
+------------------+------+------+------+------+------+------+--------+

(Not Official USDA Data)

## Beef PS&D

+------------------+-----+-----+-----+-----+-----+-----+---------+
| Japan            |     |     |     |     |     |     |         |
|                  |     |     |     |     |     |     |         |
| Meat, Beef and   |     |     |     |     |     |     |         |
| Veal             |     |     |     |     |     |     |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
|                  | 2   | R   | 2   | Es  | 2   | Fo  | UOM     |
|                  | 004 | evi | 005 | tim | 006 | rec |         |
|                  |     | sed |     | ate |     | ast |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
|                  | U   | P   | U   | P   | U   | P   |         |
|                  | SDA | ost | SDA | ost | SDA | ost |         |
|                  | Of  | Es  | Of  | Es  | Of  | Es  |         |
|                  | fic | tim | fic | tim | fic | tim |         |
|                  | ial | ate | ial | ate | ial | ate |         |
|                  | \   |     | \   |     | \   |     |         |
|                  | [Ol | \   | [Ol | \   | [Ol | \   |         |
|                  | d\] | [Ne | d\] | [Ne | d\] | [Ne |         |
|                  |     | w\] |     | w\] |     | w\] |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Market Year      |     | 0   |     | 0   |     | 0   | MM/YYYY |
| Begin            |     | 1/2 |     | 1/2 |     | 1/2 |         |
|                  |     | 004 |     | 005 |     | 006 |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Slaughter        | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
| (Reference)      | 265 | 265 | 230 | 230 | 220 | 220 | HEAD)   |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Beginning Stocks | 110 | 110 | 90  | 90  | 90  | 95  | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Production       | 513 | 514 | 500 | 500 | 495 | 495 | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Intra EC Imports | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Imports    | 647 | 645 | 721 | 700 | 740 | 737 | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Imports    | 647 | 645 | 721 | 700 | 740 | 737 | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL SUPPLY     | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
|                  | 270 | 269 | 311 | 290 | 325 | 327 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Intra EC Exports | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Exports    | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Exports    | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Human Dom.       | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
| Consumption      | 180 | 179 | 221 | 195 | 231 | 237 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Other Use,       | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| Losses           |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Dom.       | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
| Consumption      | 180 | 179 | 221 | 195 | 231 | 237 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Ending Stocks    | 90  | 90  | 90  | 95  | 94  | 90  | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL            | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
| DISTRIBUTION     | 270 | 269 | 311 | 290 | 325 | 327 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr.     | 1   | 1   | 0   | 0   | 0   | 0   | (1000   |
| Imp. from U.S.   |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr.     | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| Exp. to U.S.     |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+

(Not Official USDA Data)

## Swine PS&D

+------------------+------+------+------+------+------+------+---------+
| Japan            |      |      |      |      |      |      |         |
|                  |      |      |      |      |      |      |         |
| Animal Numbers,  |      |      |      |      |      |      |         |
| Swine            |      |      |      |      |      |      |         |
+------------------+------+------+------+------+------+------+---------+
|                  | 2004 | Rev  | 2005 | Esti | 2006 | Fore | UOM     |
|                  |      | ised |      | mate |      | cast |         |
+------------------+------+------+------+------+------+------+---------+
|                  | USDA | Post | USDA | Post | USDA | Post |         |
|                  | Offi | Esti | Offi | Esti | Offi | Esti |         |
|                  | cial | mate | cial | mate | cial | mate |         |
|                  | \[O  |      | \[O  |      | \[O  |      |         |
|                  | ld\] | \[N  | ld\] | \[N  | ld\] | \[N  |         |
|                  |      | ew\] |      | ew\] |      | ew\] |         |
+------------------+------+------+------+------+------+------+---------+
| Market Year      |      | 01/  |      | 01/  |      | 01/  | MM/YYYY |
| Begin            |      | 2004 |      | 2005 |      | 2006 |         |
+------------------+------+------+------+------+------+------+---------+
| TOTAL Beginning  | 9724 | 9724 | 9600 | 9550 | 9600 | 9545 | (1000   |
| Stocks           |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Sow Beginning    | 918  | 918  | 915  | 910  | 900  | 915  | (1000   |
| Stocks           |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Production (Pig  | 1    | 1    | 1    | 1    | 1    | 1    | (1000   |
| Crop)            | 7160 | 7160 | 7000 | 7000 | 6920 | 7100 | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Intra EC Imports | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Total Imports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| TOTAL Imports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| TOTAL SUPPLY     | 2    | 2    | 2    | 2    | 2    | 2    | (1000   |
|                  | 6884 | 6884 | 6600 | 6550 | 6520 | 6645 | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Intra EC Exports | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Total Exports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| TOTAL Exports    | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Sow Slaughter    | 0    | 0    | 0    | 0    | 0    | 0    | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| OTHER SLAUGHTER  | 1    | 1    | 1    | 1    | 1    | 1    | (1000   |
|                  | 6578 | 6596 | 6300 | 6255 | 6200 | 6350 | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Total Slaughter  | 1    | 1    | 1    | 1    | 1    | 1    | (1000   |
|                  | 6578 | 6596 | 6300 | 6255 | 6200 | 6350 | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Loss             | 706  | 738  | 700  | 750  | 720  | 750  | (1000   |
|                  |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Ending           | 9600 | 9550 | 9600 | 9545 | 9600 | 9545 | (1000   |
| Inventories      |      |      |      |      |      |      | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| TOTAL            | 2    | 2    | 2    | 2    | 2    | 2    | (1000   |
| DISTRIBUTION     | 6884 | 6884 | 6600 | 6550 | 6520 | 6645 | HEAD)   |
+------------------+------+------+------+------+------+------+---------+
| Calendar Yr.     | 120  | 115  | 120  | 116  | 100  | 115  | (HEAD)  |
| Imp. from U.S.   |      |      |      |      |      |      |         |
+------------------+------+------+------+------+------+------+---------+
| Calendar Yr.     | 0    | 0    | 0    | 0    | 0    | 0    | (HEAD)  |
| Exp. to U.S.     |      |      |      |      |      |      |         |
+------------------+------+------+------+------+------+------+---------+

(Not Official USDA Data)

## Pork PS&D

+------------------+-----+-----+-----+-----+-----+-----+---------+
| Japan            |     |     |     |     |     |     |         |
|                  |     |     |     |     |     |     |         |
| Meat, Swine      |     |     |     |     |     |     |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
|                  | 2   | R   | 2   | Es  | 2   | Fo  | UOM     |
|                  | 004 | evi | 005 | tim | 006 | rec |         |
|                  |     | sed |     | ate |     | ast |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
|                  | U   | P   | U   | P   | U   | P   |         |
|                  | SDA | ost | SDA | ost | SDA | ost |         |
|                  | Of  | Es  | Of  | Es  | Of  | Es  |         |
|                  | fic | tim | fic | tim | fic | tim |         |
|                  | ial | ate | ial | ate | ial | ate |         |
|                  | \   |     | \   |     | \   |     |         |
|                  | [Ol | \   | [Ol | \   | [Ol | \   |         |
|                  | d\] | [Ne | d\] | [Ne | d\] | [Ne |         |
|                  |     | w\] |     | w\] |     | w\] |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Market Year      |     | 0   |     | 0   |     | 0   | MM/YYYY |
| Begin            |     | 1/2 |     | 1/2 |     | 1/2 |         |
|                  |     | 004 |     | 005 |     | 006 |         |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Slaughter        | 16  | 16  | 16  | 16  | 16  | 16  | (1000   |
| (Reference)      | 578 | 596 | 300 | 300 | 200 | 350 | HEAD)   |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Beginning Stocks | 211 | 211 | 223 | 223 | 195 | 300 | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Production       | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
|                  | 271 | 272 | 260 | 250 | 240 | 260 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Intra EC Imports | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Imports    | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
|                  | 302 | 301 | 243 | 337 | 235 | 200 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Imports    | 1   | 1   | 1   | 1   | 1   | 1   | (1000   |
|                  | 302 | 301 | 243 | 337 | 235 | 200 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL SUPPLY     | 2   | 2   | 2   | 2   | 2   | 2   | (1000   |
|                  | 784 | 784 | 726 | 810 | 670 | 760 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Intra EC Exports | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Exports    | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Exports    | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Human Dom.       | 2   | 2   | 2   | 2   | 2   | 2   | (1000   |
| Consumption      | 561 | 561 | 531 | 510 | 485 | 500 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Other Use,       | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| Losses           |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Dom.       | 2   | 2   | 2   | 2   | 2   | 2   | (1000   |
| Consumption      | 561 | 561 | 531 | 510 | 485 | 500 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Ending Stocks    | 223 | 223 | 195 | 300 | 185 | 260 | (1000   |
|                  |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL            | 2   | 2   | 2   | 2   | 2   | 2   | (1000   |
| DISTRIBUTION     | 784 | 784 | 726 | 810 | 670 | 760 | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr.     | 401 | 401 | 393 | 454 | 379 | 421 | (1000   |
| Imp. from U.S.   |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr.     | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| Exp. to U.S.     |     |     |     |     |     |     | MT CWE) |
+------------------+-----+-----+-----+-----+-----+-----+---------+

(Not Official USDA Data)