Required Report - public distribution

**Date:** 8/26/2005

**GAIN Report Number:** JA5053

JA5053

**Japan**

**Livestock and Products**

**Annual Report**

**2005**

**Approved by:**

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

U. S. Embassy

**Prepared by:**

Kakuyu Obara

**Report Highlights: The continued lack of U.S. and Canadian beef will
extend the supply deficit in Japan's beef market into 2006. Despite
efforts made by Australia to boost their supplies of grain fed beef,
acute shortage of specific cuts remains --especially those needed for
beef bowls and yakiniku. The beef SG will remain a major trade concern
in 2006. After an expanding market with high pork consumption and import
levels, the situation is forecast to cool in 2005 -- 2006 with less
chances of triggering the pork safeguard in JFY 2006.**

Includes PSD Changes: Yes

Includes Trade Matrix: No

Annual Report

Tokyo \[JA1\]

\[JA\]

Table of Contents

[**Beef Section 4**](#beef-section)

[2006 Beef Market Outlook 4](#beef-market-outlook)

[Deficit Beef Supply to Continue in 2006
4](#deficit-beef-supply-to-continue-in-2006)

[Return of U.S. and Canadian Beef Essential to Make up the Supply
Deficit
4](#return-of-u.s.-and-canadian-beef-essential-to-make-up-the-supply-deficit)

[Japanese Trade Keen to Get Specific Grain Fed Cuts
5](#japanese-trade-keen-to-get-specific-grain-fed-cuts)

[Domestic Beef Production Forecast to Decline in 2005 - 2006
5](#domestic-beef-production-forecast-to-decline-in-2005---2006)

[2006 Import Demand Hinges on Import Resumption of U.S. and Canadian
Beef
5](#import-demand-hinges-on-import-resumption-of-u.s.-and-canadian-beef)

[Table 1. Japanese Beef Safeguard Monitor
6](#table-1.-japanese-beef-safeguard-monitor)

[2005 Situation Update and Outlook 7](#situation-update-and-outlook)

[Import Resumption Pending on FSC's On-going Review
7](#import-resumption-pending-on-fscs-on-going-review)

[Beef SG Remains to be A Major Trade Concern
7](#beef-sg-remains-to-be-a-major-trade-concern)

[Total Beef Consumption and Imports Bouncing Back in 2005
7](#total-beef-consumption-and-imports-bouncing-back-in-2005)

[Sharp Wholesale Beef Price Rise Begins Cooling Down in 2005
8](#sharp-wholesale-beef-price-rise-begins-cooling-down-in-2005)

[Australia Boosting Grain-fed Beef Exports to Japan
8](#australia-boosting-grain-fed-beef-exports-to-japan)

[Domestic Cattle Slaughter to Decline in 2005
8](#domestic-cattle-slaughter-to-decline-in-2005)

[Table 2. Japanese Monthly Household Consumption of Beef, Pork and
Chicken
9](#table-2.-japanese-monthly-household-consumption-of-beef-pork-and-chicken)

[Table 3-a. Quarterly Average Wholesale Price Domestic Beef Carcass
9](#table-3-a.-quarterly-average-wholesale-price-domestic-beef-carcass)

[Table 3-b. Quarterly Average Wholesale Prices of Imported Beef (Chilled
Cuts)
11](#table-3-b.-quarterly-average-wholesale-prices-of-imported-beef-chilled-cuts)

[Table 3-c. Quarterly Average Wholesale Price of Imported Beef (Frozen
Cuts)
12](#table-3-c.-quarterly-average-wholesale-price-of-imported-beef-frozen-cuts)

[Table 4. Australian Beef Exports to Japan
13](#table-4.-australian-beef-exports-to-japan)

[Table 5. Japanese Monthly Ending Beef Stock Estimates
13](#table-5.-japanese-monthly-ending-beef-stock-estimates)

[Table 6-a. Japanese Chilled and Frozen Combined Beef Imports January --
June 2005
14](#table-6-a.-japanese-chilled-and-frozen-combined-beef-imports-january-june-2005)

[Table 6-b. Japanese Chilled Beef Imports January -- June 2005
14](#table-6-b.-japanese-chilled-beef-imports-january-june-2005)

[Table 6-c. Japanese Frozen Beef Imports January -- June 2005
15](#table-6-c.-japanese-frozen-beef-imports-january-june-2005)

[Table 6-d. Japanese Imports of Processed and Prepared Beef Products
January -- June 2005
15](#table-6-d.-japanese-imports-of-processed-and-prepared-beef-products-january-june-2005)

[Table 7-a. Japanese Beef Imports CY 2004
16](#table-7-a.-japanese-beef-imports-cy-2004)

[Table 7-b. Japanese Imports of Processed and Prepared Beef Products CY
2004
16](#table-7-b.-japanese-imports-of-processed-and-prepared-beef-products-cy-2004)

[Table 8. Japanese Cattle Inventory
17](#table-8.-japanese-cattle-inventory)

[Table 9. Japanese Average Feeder Calf Auction Price by Breed
18](#table-9.-japanese-average-feeder-calf-auction-price-by-breed)

[Pork Section 20](#pork-section)

[2006 Pork Market Outlook 20](#pork-market-outlook)

[Pork Consumption and Imports Projected Lower in 2006
20](#pork-consumption-and-imports-projected-lower-in-2006)

[Prospects Look Good for US and Canadian Seasoned Pork in 2006
20](#prospects-look-good-for-us-and-canadian-seasoned-pork-in-2006)

[Reasonable Trigger Levels Likely Keep Pork SG Remote in JFY 2006
20](#reasonable-trigger-levels-likely-keep-pork-sg-remote-in-jfy-2006)

[Lower Domestic Pork Outputs Forecast in 2006
20](#lower-domestic-pork-outputs-forecast-in-2006)

[Table 10. Japanese Pork Safeguard Monitor
21](#table-10.-japanese-pork-safeguard-monitor)

[2005 Situation Update and Outlook 21](#situation-update-and-outlook-1)

[Heated Market Situation for Pork Began Cooling Down in 2005
21](#heated-market-situation-for-pork-began-cooling-down-in-2005)

[High Level Total Pork Consumption and Imports to Eclipse in 2005
21](#high-level-total-pork-consumption-and-imports-to-eclipse-in-2005)

[Imports of Some Prepared Products and Sausage from China to Grow in
2005
22](#imports-of-some-prepared-products-and-sausage-from-china-to-grow-in-2005)

[Domestic Hog Slaughter to Fall in 2005
23](#domestic-hog-slaughter-to-fall-in-2005)

[Pork SG Not Repeated for 5^th^ Straight Year in JFY 2005
23](#pork-sg-not-repeated-for-5th-straight-year-in-jfy-2005)

[GOJ Began Review of Pork Import Regime
23](#goj-began-review-of-pork-import-regime)

[Table 11. Quarterly Average Wholesale Price of Domestic Pork Carcass
24](#table-11.-quarterly-average-wholesale-price-of-domestic-pork-carcass)

[Table 12. Japanese Monthly Pork Stock Estimates
25](#table-12.-japanese-monthly-pork-stock-estimates)

[Table 13-a. Japanese Chilled and Frozen Combined Pork Imports January
-- June 2005
25](#table-13-a.-japanese-chilled-and-frozen-combined-pork-imports-january-june-2005)

[Table 13-b. Japanese Chilled Pork Imports January -- June 2005
26](#table-13-b.-japanese-chilled-pork-imports-january-june-2005)

[Table 13-c. Japanese Frozen Pork Imports January -- June 2005
26](#table-13-c.-japanese-frozen-pork-imports-january-june-2005)

[Table 13-d. Japanese Imports of Processed and Prepared Pork Products
January -- June 2005
27](#table-13-d.-japanese-imports-of-processed-and-prepared-pork-products-january-june-2005)

[Table 14-a. Japanese Chilled and Frozen Pork Combined Imports CY 2004
27](#table-14-a.-japanese-chilled-and-frozen-pork-combined-imports-cy-2004)

[Table 14-b. Japanese Imports of Prepared and Processed Pork Products CY
2004
28](#table-14-b.-japanese-imports-of-prepared-and-processed-pork-products-cy-2004)

[Cattle PS&D Table 29](#cattle-psd-table)

[Beef PS&D Table 30](#beef-psd-table)

[Swine PS&D Table 31](#swine-psd-table)

[Pork PS&D Table 32](#pork-psd-table)

**NOTES:**

As was done in the last semiannual JA 5002, post continues to assume no
beef imports from U.S. in its forecast for the Japanese livestock market
outlook for CY 2005 and CY 2006. 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.

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 Beef Market Outlook

## Deficit Beef Supply to Continue in 2006 

Assuming no U.S. or Canadian beef imports will mean that many Japanese
food businesses will continue to face a supply deficit in 2006, high
market prices and constrained alternatives due to non-availability of
grain fed cuts. Despite Australia and New Zealand's efforts since 2004
to fill the gap by boosting exports, the market is still in a supply
deficit due to the lack of specific cuts and quality of meat that has
traditionally supplied by the U.S. and Canada.

## Return of U.S. and Canadian Beef Essential to Make up the Supply Deficit

Japanese total beef supply (PS&D) in 2004 dropped 14% from a year before
to 1.268 million MT following the December 24, 2003 ban on U.S. beef due
to a finding of BSE case in the U.S. Total imports (beef and the
prepared and processed beef products combined) in 2004 plunged 24% at
645,000 MT. Australia and New Zealand were only partially able to make
up the deficit by their increased beef supplies in 2005 and 2006. Post
projected the total beef supply deficit in Japan 14% below at 1,311
million MT in 2005 and 10% below at 1,335 in 2006 when compared to 2003
level. Though increases in the total imports are forecast on a year to
year basis, the levels, when compared to 2003 (not with 2004), are still
projected 15% below at 721,000 MT in 2005 and 12% below at 750,000 MT in
2006. Almost the entire quantity will be supplied by Australia and New
Zealand. Increased trade has been supported through substantial business
ties and investments in feedlots and meat packing business between Japan
and Oceania over the past several decades, particularly in filling the
short market for grain fed beef.

According to Meat Livestock Australia (MLA) statistics, Australia
boosted their grain fed beef exports (chilled and frozen combined) to
Japan for January -- July 2005 by 22 % at 113,561 MT (PWE) on board
vessel basis. This accounted for a 46% share of total shipments and a 5%
share increase compared to the previous year (See table 4).

## Japanese Trade Keen to Get Specific Grain Fed Cuts

However, there is no significant increase in total beef imports in 2006
forecast in this report since Australia and New Zealand alone will
likely have difficulty in boosting their export volume any further
unless Australia finds a way to sustain the high number of cattle in
feedlots though 2006. Trade sources point out that Australia's practice
of full-set based trade (boneless) with Japan may become a constraint
for Japanese importers due to the development of a surplus in 2005 for
some less popular cuts such as round. The surplus may also begin to
affect the domestic market in 2006 as round cuts are unpopular among
consumers whose general preference runs to cuts such as chuck, short
plate, short rib, and loins.

These surpluses show that one of the US beef industry's strongest
marketing advantages was the ability to provide large quantities of
specific grain fed cuts to meet the particular market preferences of
Japan. This market is expected to remain important once US beef trade
resumes based on comments from importers who have expressed interested
in buying specific grain fed cuts from U.S., rather than a full set or a
semi-full set (a set without round cuts) once the trade resumes.

## Domestic Beef Production Forecast to Decline in 2005 - 2006

Japanese cattle inventories are expected to continue their gradual, but
continuous decline allowing for a slow increase of imports in the future
(See table 8). Also, reduced number of calves bone in 2004 -- 2005,
particularly dairy calves (Holstein steers, and F1 cross breed steers
and heifers) will likely lower the total slaughter for beef in CY 2005,
CY 2006 (See table 8).

## 2006 Import Demand Hinges on Import Resumption of U.S. and Canadian Beef 

Specific import restrictions for US beef will not be known until after
the Food Safety Commission review is completed. However, it is expected
that the demand for US beef, once imports are resumed, will be dependent
on the following measures: 1) Cut off age (20 months or younger) under
the Export Verification program (EV), 2) Lifting import ban by other
Asian countries, and 3) Possibility of beef safeguard (SG) plus the
foreign exchange situation.

1\) The strict cut-off age limitation under the EV raises questions as
to the volume, cuts, quality (choice or select), and price of US meat.
The U.S. meat industry and Japanese importers are currently discussing
this issue among themselves as they seek a solution to bring the
specific cuts currently in demand to the Japanese market.

2\) Other Asian Countries, like Korea and Taiwan, are expected to follow
Japan's example and reopen their market for U.S. beef. This will
increase competition for some of the more popular cuts in Japan such as
short plate and boneless short rib for barbecue and may ultimately
create pressure to increase international beef prices.

3\) Low trigger levels for the beef safeguard (SG) during JFY 2006 (06
April -- 07 March) are of major concerns among the trade. These levels
reflect substantially lower imports during the first quarter of JFY 2005
primarily due to the continued ban on U.S. beef. The first quarter
trigger levels for JFY 2006 (April -- June) are preliminary calculated
at 69,726 MT for chilled beef and 70,716 MT for frozen beef (Note
figures are customs clearance basis) (See table 1). These projected
levels are roughly 30% below JFY 2002 first quarter levels.

Assuming that U.S. and Canadian beef are being imported, there is a good
chance that total beef imports (generic) for 06 April -- June will
exceed the trigger levels resulting the SG from August 1, 2006 for both
chilled and frozen beef though March 31, 2007. An artificial tariff hike
from 38.5% to 50% (bound duty), if imposed, will likely hamper the
recovery of beef consumption and hurt the retail and food service
sectors as well as consumers. Concerned parties among the domestic meat
sector and key beef exporting countries are expected to work together to
argue that the safeguard system should be adjusted to take into account
the unusual nature of this market situation.

Note: Trigger levels are calculated separately for chilled and frozen
beef on a quarterly basis and equal to 117% of the respective import
levels of the previous year (i.e. 1.17 x the previous years imports).
Imports are cumulative for each successive quarter during the Japanese
fiscal year -- i.e. Q1/05 + Q2/05 are compared to Q1/06 + Q2/06, etc.\]

Finally, it will be challenging for the U.S. to gain its lost market
share back from Australia once the trade resumes. As reported in JA
5002, prior to Japan's import ban, U.S. beef (mostly specific cuts of
grain fed beef such as short plate, boneless short lib, chuck lib and
other barbecue items suitable for beef bowl and barbecue dishes)
represented about one-third of Japan's total annual beef consumption,
and nearly half of Japan's total beef imports. The main competition was
with Australia who supplied roughly an equal amount of meat (mainly as
full sets). It is expected that PR campaigns and consumer education will
be important to regaining the lost market but price and cut availability
will also be key factors.

### Table 1. Japanese Beef Safeguard Monitor

  --------------------------- ----------- -------- --------- ---------- -----------
  Beef Safeguard Trigger                                                
  Levels and Actual                                                     
  Imports in JFY 2005 (05                                               
  April -- 06 March)                                                    

  Unit: Metric Ton (Customs                                             
  Clearance Basis)                                                      

  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. - Sept.)       128,217                                    

                                                   October   November   December

  II - III (Apr. - Dec.)      196,669                                    

                                                   January   February   March

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

                                                                        

  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. - Sept.)       141,042                                    

                                                   October   November   December

  II - III (Apr. - Dec.)      202,817                                    

                                                   January   February   March

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

  Source: Ministry of Finance                                           
  (ALIC Monthly)                                                        
  --------------------------- ----------- -------- --------- ---------- -----------

# 2005 Situation Update and Outlook

Revised cattle and beef PS&D figures for CY 2005 are constructed based
on preliminary production, trade and stock data for January -- June
2005. Two key developments occurred during the period are worth noting,
as they will likely affect post's next forecasts for this year and next
year.

## Import Resumption Pending on FSC's On-going Review

The Japanese Food Safety Commission (FSC), an independent body directly
under the Prime Minister's Office, began a review in May of the proposed
Beef Export Verification Program (EV) negotiated between GOJ and USG
based on the October 2003 Shared Understanding. The FSC is also
concurrently reviewing a similar proposal for Canadian beef. The
previous import protocol between the U.S. and Japan will have to be
reviewed pending publication of the FSC's final report, which can be
done during the 30-day public comment period. Once this is completed,
the GOJ is expected to need approximately 2 to 3 weeks to finalize the
changes in regulations as well as to have a series of risk communication
meetings to explain their decision. Imports of US beef would then be
allowed, assuming these steps go as planned.

## Beef SG Remains to be A Major Trade Concern 

2\) The JFY 2005 first quarter beef safeguard (April -- June) was
avoided owing to voluntary efforts made by meat importers to delay
customs clearance until July of shipments that arrived in June. As a
result, April -- June quarterly imports of chilled beef and frozen beef
did not exceed the trigger level (See table 1). Due to relatively low
trigger levels for each quarter during JFY 2005 (05 April -- 06 March),
the triggering of the SG remains a strong possibility throughout the
remainder of the Japanese fiscal year. Although this report assumes no
US beef imports for 2005, the margins for the SG in the third quarter
(05 April -- 05 December) of JFY 2005 are close enough that any increase
in import trends could trigger the SG. The resulting beef tariff hike,
from 38.5% to 50%, will no doubt slow down prospective imports in the
rest of JFY 2005, which ends March 2006.

## Total Beef Consumption and Imports Bouncing Back in 2005

The supply deficit continues to be the main problem for the Japanese
beef market in 2005. After the plunge in 2004, total domestic beef
consumption (PS&D) started bouncing back in 2005 and is projected to
increase by 4% from last year's level to 1.221 million MT, mainly
reflecting increased imports. During the first half of 2005, despite
high market prices, a modest increase was witnessed in the household
sector partly helped by increased availability and sales of Aussie
chilled grain fed cuts. However, there has been some sluggishness
reported in the food service and prepared food businesses due to the
lack of availability of specific cuts and high prices (See table 2).

Total beef imports, including prepared and processed products, for the
year are forecast to recover, up by 12% from a year ago to 721,000 MT
(up 11% for beef at 685,000 and up 29% for prepared and processed
products at 36,000 MT). (See table 6-a, 6-b and 6-c and 7-a and 7-b). Of
the above beef total, projected shares by country are 90% for Australia
and 9% for New Zealand. Of the prepared and processed products category,
the two major suppliers are China and Australia with China projected to
nearly double the volume at 10,000 MT.

## Sharp Wholesale Beef Price Rise Begins Cooling Down in 2005

Market prices, particularly at the wholesale level, soared in 2004, but
appeared to have begun cooling down after reaching a peak during the
first half of 2005 (See table 3-b and 3-c). The average price of
representative imported cuts, for Aussie full set/short grain fed
(chilled, boneless) was 5% lower at 855 yen per kilogram for the first
half 2005 compared to the same period last year, while the price for
full set/grass fed (chilled) was also 4% lower at 722 yen per kilogram.
Prices for Australian grass fed trimmings (frozen -- mainly for
hamburger paddies), which are used for grounded beef, rose 2% to 434 yen
per kilogram.

On the retail front, prices continue to rise. Retail beef prices have
remained high for the first half with domestic cuts such as sirloin
(from dairy breed) reaching a record high price of over 700 yen (\$6.36)
per 100 grams. In comparison, Aussie chilled sirloin (grain fed) is sold
at about 400 yen (\$3.63) per 100 grams at retail. The average consumer
are being forced to either less expensive cuts or eat beef less
frequently.

## 

## Australia Boosting Grain-fed Beef Exports to Japan

MLA data shows Australia boosted their chilled beef exports to Japan for
the first seven months - 24% at 88,314 MT for grain fed (mostly short
fed) and up 9% for grass fed at 51,396 MT on board vessel basis compared
to the same period last year. For frozen beef category, their exports
were up 17% for grain fed at 28,247 MT and down 4% for grass fed at
83,134 MT (See table 4). Industry press reports that the number of
cattle raised in feedlots in Australia in the end of June 2005 increased
24% from a year before to 879,000 heads suggesting Australia will
maintain its current level of grain fed beef for exports though 2005,
partly owing to strong import demand for grain fed beef from Japan and
other Asian countries.

That said, Japanese traders are concerned about limited availability of
specific grain fed cuts suitable for beef bowl and barbecue. Restaurants
featuring offal variety meat (including tongues, intestines, hanging
tender, skirt meat etc.) and short plate and short rib continue to
suffer financially with many going out of business. Prior to the import
ban, the U.S. was the major supplier of offal and variety meat to Japan,
which paid premium prices for traditionally low-demand product. The
Japanese trade is currently very interested in the type and volume of
cuts that will be available once Japan resumes imports of U.S. and
Canadian beef under the EV program.

## Domestic Cattle Slaughter to Decline in 2005

Domestic beef production in 2005 is forecast to decline by 3% to 500,000
MT, reflecting lower slaughter numbers in dairy breed beef cattle,
including of F1 cross breed (Wagyu and Holstein cross) offsetting a
slightly higher slaughter of Wagyu steers. Average wholesale prices for
medium grade carcasses (beef and dairy breeds), which soared in 2004,
generally began to calm down in the first half of 2005 (See table 3-a).
However, average auction prices for the feeder calf market, which showed
good increases in previous years, are expected to remain high, partly
due to the limited supply relative to the demand (See table 9). As a
result, the combination of weakening carcass prices and still high calf
prices can be expected to squeeze the profitability of feedlot operators
who are ready to market the high priced calves they bought in 2003 --
2005. The return of U.S. and Canadian beef to the market will likely
have some cooling effects on Japan's high feeder calve prices,
particularly on dairy breed.

### Table 2. Japanese Monthly Household Consumption of Beef, Pork and Chicken

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

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

  2004                                                                

  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                                                                

  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%

  Source:                                                            
  Meat and                                                           
  Livestock                                                          
  Daily,                                                             
  August 8                                                           
  Issue                                                              
  ----------- ---------- ---------- ---------- ---------- ---------- ----------

### Table 3-a. Quarterly Average Wholesale Price Domestic Beef Carcass

+----------------+---------+---------+---------+---------+---------+
| #              |         |         |         |         |         |
| ###### Selecte |         |         |         |         |         |
| d Medium Grade |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Unit: Yen per  |         |         |         |         |         |
| Kilogram       |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| WAGYU STEER    |         |         |         |         |         |
| A-3 GRADE      |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Year/Month     | 1st     | 2nd     | 3rd     | 4th     | Yearly  |
|                | Qtr.    | Qtr.    | Qtr.    | 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   | 1,943   | 0       | 0       | 973     |
+----------------+---------+---------+---------+---------+---------+
| %chg           | 12%     | 4%      | -100%   | -100%   | -48%    |
+----------------+---------+---------+---------+---------+---------+
|                |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| WAGYU STEER    |         |         |         |         |         |
| A-2 GRADE      |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Year/Month     | 1st     | 2nd     | 3rd     | 4th     | Yearly  |
|                | Qtr.    | Qtr.    | Qtr.    | 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   | 1,718   | 0       | 0       | 862     |
+----------------+---------+---------+---------+---------+---------+
| %chg           | 12%     | 3%      | -100%   | -100%   | -48%    |
+----------------+---------+---------+---------+---------+---------+
|                |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Holstein Steer |         |         |         |         |         |
| B-2 Grade      |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Year/Month     | 1st     | 2nd     | 3rd     | 4th     | Yearly  |
|                | Qtr.    | Qtr.    | Qtr.    | 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     | 837     | 0       | 0       | 416     |
+----------------+---------+---------+---------+---------+---------+
| %chg           | 5%      | 0%      | -100%   | -100%   | -48%    |
+----------------+---------+---------+---------+---------+---------+
|                |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| F1 Cross Breed |         |         |         |         |         |
| Steer B-3      |         |         |         |         |         |
| GRADE          |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Year/Month     | 1st     | 2nd     | 3rd     | 4th     | Yearly  |
|                | Qtr.    | Qtr.    | Qtr.    | 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   | 1,496   | 0       | 0       | 739     |
+----------------+---------+---------+---------+---------+---------+
| %chg           | 14%     | 10%     | -100%   | -100%   | -46%    |
+----------------+---------+---------+---------+---------+---------+
|                |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| F1 Cross Breed |         |         |         |         |         |
| Steer B-2      |         |         |         |         |         |
| GRADE          |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+
| Year/Month     | 1st     | 2nd     | 3rd     | 4th     | Yearly  |
|                | Qtr.    | Qtr.    | Qtr.    | 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   | 1,347   | 0       | 0       | 660     |
+----------------+---------+---------+---------+---------+---------+
| %chg           | 27%     | 11%     | -100%   | -100%   | -44%    |
+----------------+---------+---------+---------+---------+---------+
| Source: MAFF   |         |         |         |         |         |
+----------------+---------+---------+---------+---------+---------+

### Table 3-b. Quarterly Average Wholesale Prices of Imported Beef (Chilled Cuts)

  -------------- ----------- ----------- ----------- ----------- -----------
  **Selected                                                     
  Cuts, Chilled,                                                 
  Aussie Beef**                                                  

  Yen per                                                        
  Kilogram                                                       

  Full Set                                                       
  (Short Grain                                                   
  Fed)                                                           

  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                                  

  %chg           -5%         -4%                                  

                                                                 

  Full Set,                                                      
  (Grass Fed)                                                    

  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                                  

  %chg           -0%         -8%                                  

                                                                 

  Navel-end                                                      
  Brisket                                                        

  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                                  

  %chg           1%          -25%                                 

                                                                 

  Strip Loin                                                     

  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                                

  %chg           3%          -5%                                  

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

### Table 3-c. Quarterly Average Wholesale Price of Imported Beef (Frozen Cuts)

  -------------- ----------- ----------- ----------- ----------- -----------
  **Selected                                                     
  Cuts, Frozen,                                                  
  Aussie**                                                       

  Yen per                                                        
  Kilogram                                                       

  Chuck & Blade                                                  

  Year/Month     1st Qtr.    2^nd^ 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                                  

  %chg           8%          -4%                                  

                                                                 

  Top Side                                                       

  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                                  

  %chg           -0%         1%                                   

                                                                 

  Trimming                                                       

  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                                  

  %chg           9%          -4%                                  

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

### 

### Table 4. Australian Beef Exports to Japan

  --------------- -------------- -------------- -------------- -------------- --------------
  **Metric Ton                                                                
  (On Board                                                                   
  Vessel Basis)**                                                             

  **Annual**      **2003**       **2004**       **% Chg**      **03 Share**   **04 Share**

  ** **           **Jan/Dec**    **Jan/Dec**    **Jan/Dec**    **Jan/Dec**    **Jan/Dec**

  **Chilled       **148,697**    **207,839**    **40%**        **100%**       **100%**
  Beef**                                                                      

  Grass           62,849         79,335         26%            42%            38%

  Grain fed       85,848         128,504        50%            58%            62%

  **Frozen Beef** **130,619**    **185,632**    **42%**        **100%**       **100%**

  Grass           105,101        141,976        35%            80%            76%

  Grain fed       25,518         43,656         71%            20%            24%

  **TOTAL**       **279,316**    **393,471**    **41%**        **100%**       **100%**

  Grass           167,950        221,311        32%            60%            56%

  Grain fed       111,366        172,160        55%            40%            44%

  ** **                                         ** **          ** **          ** **

  **Year to       **2004**       **2005**       **% Chg**      **04 Share**   **05 Share**
  Date**                                                                      

  ** **           **Jan/July**   **Jan/July**   **Jan/July**   **Jan/July**   **Jan/July**

  **Chilled       **115,737**    **136,710**    **18%**        **100%**       **100%**
  Beef**                                                                      

  Grass           47,160         51,396         9%             41%            38%

  Grain fed       68,577         85,314         24%            59%            62%

  **Frozen Beef** **110,964**    **111,381**    **0%**         **100%**       **100%**

  Grass           86,826         83,134         -4%            78%            75%

  Grain fed       24,138         28,247         17%            22%            25%

  **TOTAL**       **226,701**    **248,091**    **9%**         **100%**       **100%**

  Grass           133,986        134,530        0%             59%            54%

  Grain fed       92,715         113,561        22%            41%            46%

  Source: Meat                                                                
  Livestock                                                                   
  Australia (MLA)                                                             
  --------------- -------------- -------------- -------------- -------------- --------------

### Table 5. Japanese Monthly Ending Beef Stock Estimates

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

                2002      2003      \% Chg.  2004     \% Chg.  2005      \% 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%                

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

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

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

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

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

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

### Table 6-a. Japanese Chilled and Frozen Combined Beef Imports January -- June 2005

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

  Unit:                                                                 
  Metric Ton                                                            
  (Customs                                                              
  Clearance                                                             
  Basis)                                                                

                                                             \% Change  \%

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

                            Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--   280,477    198,348    227,494    15%        100%

  1           Australia     136,070    179,685    201,057    12%        88%

  2           New Zealand   8,596      16,696     22,137     33%        10%

  3           Mexico        0          228        2,671      1074%      1%

  4           Chile         0          247        1,314      432%       1%

  5           Vanuatu       288        204        183        -10%       0%

  6           Costa Rica    0          0          83         #DIV/0!    0%

  7           Panama        0          0          49         #DIV/0!    0%

  8           Others        135,523    1,288      0          -100%      0%

  Product HS                                                            
  Code: HS                                                              
  0201, HS                                                              
  0202                                                                  

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

### Table 6-b. Japanese Chilled Beef Imports January -- June 2005

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change  \%

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

                             Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--    138,281    92,495     112,138    21%        100%

  1           Australia      75,795     90,627     109,010    20%        97%

  2           New Zealand    1,401      1,794      2,139      19%        2%

  3           Mexico         0          74         978        1231%      1%

  4           Chile          0          0          10         #DIV/0!    0%

  5           United States  58,821     0          0          #DIV/0!    0%

  6           Others         2,264      0          0          #DIV/0!    0%

  Product HS                                                             
  Code: HS                                                               
  0201                                                                   

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

### Table 6-c. Japanese Frozen Beef Imports January -- June 2005

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

  Unit:                                                                
  Metric Ton                                                           
  (Customs                                                             
  Clearance                                                            
  Basis)                                                               

                                                           \% Change   \%

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

                             Jan/Jun   Jan/Jun   Jan/Jun   Jan/Jun     Jan/Jun

  0           \--World\--    142196    105853    115356    9%          100%

  1           Australia      60275     89058     92047     3%          80%

  2           New Zealand    7195      14902     19998     34%         17%

  3           Mexico         0         154       1693      999%        1%

  4           Chile          0         247       1303      428%        1%

  5           Vanuatu        288       204       183       -10%        0%

  6           Costa Rica     0         0         83        #DIV/0!     0%

  7           Panama         0         0         49        #DIV/0!     0%

  8           United States  69239     1276      0         -100%       0%

  9           Nicaragua      0         13        0         -100%       0%

  10          Others         5199      0         0         #DIV/0!     0%

  Product HS                                                           
  Code: HS                                                             
  0202                                                                 

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

### Table 6-d. Japanese Imports of Processed and Prepared Beef Products January -- June 2005

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change  \%

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

                             Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--    5,464      5,199      10,426     101%       100%

  1           China          312        703        4,376      523%       42%

  2           Australia      1,639      3,289      3,715      13%        36%

  3           Brazil         303        519        1,192      129%       11%

  4           New Zealand    582        613        575        -6%        6%

  5           Thailand       53         27         339        1149%      3%

  6           Argentina      9          27         210        669%       2%

  7           Others         2,567      20         20         -2%        0%

  Product HS                                                             
  Code: HS                                                               
  0210.20 and                                                            
  HS 1602.50                                                             

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

### Table 7-a. Japanese Beef Imports CY 2004

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change   

  Rank        Country        2002       2003       2004       \- 04/03 - \- 05
                                                                         Share

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

  0           \--World\--    486,741    576,083    431,818    -25%       100%

  1           Australia      230,499    283,698    394,068    39%        91%

  2           New Zealand    10,307     17,071     33,569     97%        8%

  3           Mexico         7          0          1,772      820076%    0%

  4           United States  226,518    267,277    1,276      -100%      0%

  5           Chile          10         0          665        146440%    0%

  6           Vanuatu        309        573        448        -22%       0%

  7           Nicaragua      0          0          13         #DIV/0!    0%

  8           Costa Rica     0          0          4          #DIV/0!    0%

  9           Panama         0          0          3          #DIV/0!    0%

  10          Others         19,091     7,463      0          -100%      0%

  Product HS                                                             
  Code: HS                                                               
  0201, HS                                                               
  0202                                                                   

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

### Table 7-b. Japanese Imports of Processed and Prepared Beef Products CY 2004

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change   

  Rank        Country        2,002      2,003      2,004      \- 04/03 - \- 04
                                                                         Share -

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

  0           \--World\--    8,939      15,032     16,223     8%         100%

  1           Australia      1,994      5,426      8,299      53%        51%

  2           China          656        705        4,240      501%       26%

  3           Brazil         690        773        1,875      142%       12%

  4           New Zealand    1,235      980        1,105      13%        7%

  5           Argentina      57         45         164        261%       1%

  6           Thailand       102        107        488        355%       3%

  7           Others         4,206      6,995      51         -99%       0%

  Product HS                                                             
  Code: HS                                                               
  0210.20 and                                                            
  HS 1602.50                                                             

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

### 

### Table 8. Japanese Cattle Inventory

  ---------------------------------- ----------- ----------- --------- ----------- --------- ----------- ---------
  (As of February 1st each year)                                                                         

  Unit: 1,000 Heads                                                                                      

                                     2002        2003        %chg      2004        %chg      2005        %chg

  Number of Beef Cattle Farms        104.2       98.1        -6%       93.9        -4%       89.6        -5%

  Number of Dairy Farms (Female)     31.0        29.8        -4%       28.8        -3%       27.7        -4%

  1\. Total Beef Breed (Wagyu and    1,711       1,705       -0%       1,708       0%        1,697       -1%
  Other)                                                                                                 

  Dairy Breed for Beef (Holstein)    483         471         -2%       471         0%        471         -0%

  F-1 Cross Breed (Wagyu and         644         630         -2%       609         -3%       579         -5%
  Holstein Cross)                                                                                        

  2\. Sub Total Dairy & F-1 Cattle   1,127       1,101       -2%       1,080       -2%       1,049       -3%
  for Beef                                                                                               

  **Total Cattle Raised for Beef (1  **2,838**   **2,805**   **-1%**   **2,788**   **-1%**   **2,746**   **-2%**
  and 2)**                                                                                               

  **Total Dairy Cow and Heifer       **1,726**   **1,719**   **-0%**   **1,690**   **-2%**   **1,655**   **-2%**
  Raised**                                                                                               

  **All Cattle Raised for Beef and   **4,564**   **4,524**   **-2%**   **4,478**   **-2%**   **4,401**   **-4%**
  Dairy**                                                                                                

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

### Table 9. Japanese Average Feeder Calf Auction Price by Breed 

  ------------- --------------- ---------------- ----------- ---------- ------------
  **Black Wagyu                                                         
  (Steer and                                                            
  Heifer) **                                                            

  **Fiscal      **Marketing**   **Auction Ave.** **Ave.      **Ave.     **Price Per
  Year**                                         Weight**    Age.**     Kg.**

  ** **         **Head**        **1,000          **Kg.**     **Days**   **Yen**
                                Yen/Head**                              

  JFY 2000      360,343         388              279         294        1,390

  JFY 2001      349,685         334              275         290        1,213

  \% Chg.       -3%             -14%             -1%         -1%        -13%

  JFY 2002      370,708         381              272         289        1,406

  \% Chg.       6%              14%              -1%         0%         16%

  JFY 2003      366,797         415              273         286        1,522

  \% Chg.       -1%             9%               0%          -1%        8%

  JFY 2004      357,990         459              272         285        1,687

  \% Chg.       -2%             11%              0%          0%         11%

  Year to Date                                                          

  04 Apr/Jun    91,984          440              277         288        1,586

  05 Apr/Jun    92,744          465              276         287        1,682

  \% Chg.       1%              6%               0%          0%         6%

                                                                        

  **Holstein                                                            
  (Steer and                                                            
  Female) **                                                            

  ** **         **Marketing**   **Auction Ave.** **Ave.      **Ave.     **Price Per
                                                 Weight**    Age.**     Kg.**

  **Fiscal      **Head**        **1,000          **Kg.**     **Days**   **Yen**
  Year**                        Yen/Head**                              

  JFY 2000      16,381          88               262         217        340

  JFY 2001      15,415          70               271         222        259

  \% Chg.       -6%             -20%             3%          2%         -24%

  JFY 2002      17,348          69               267         221        258

  \% Chg.       13%             -1%              -1%         0%         0%

  JFY 2003      18,303          54               272         228        199

  \% Chg.       6%              -22%             2%          3%         -23%

  JFY 2004      18,879          68               267         231        253

  \% Chg.       3%              26%              -2%         1%         27%

  Year to Date                                                          

  04 Apr/Jun    5,140           68               275         231        249

  05 Apr/Jun    5,021           85               261         227        324

  \% Chg.       -2%             24%              -5%         -2%        30%

                                                                        

  **F1 Cross                                                            
  Breed (Steer                                                          
  and                                                                   
  Heifer) **                                                            

  ** **         **Marketing**   **Auction Ave.** **Ave.      **Ave.     **Price Per
                                                 Weight**    Age.**     Kg.**

  **Fiscal      **Head**        **1,000          **Kg.**     **Days**   **Yen**
  Year**                        Yen/Head**                              

  JFY 2000      79,847          186              269         250        693

  JFY 2001      72,512          158              271         253        582

  \% Chg.       -9%             -15%             1%          1%         -16%

  JFY 2002      79,714          195              270         250        725

  \% Chg.       10%             23%              0%          -1%        25%

  JFY 2003      74,388          210              275         254        766

  \% Chg.       -7%             8%               2%          2%         6%

  JFY 2004      78,702          228              276         254        826

  \% Chg.       6%              9%               0%          0%         8%

  Year to Date                                                          

  04 Apr/Jun    20,487          225              278         253        810

  05 Apr/Jun    21,152          244              277         254        879

  \% Chg.       3%              8%               0%          0%         9%

  Note: F1                                                              
  Cross Breed:                                                          
  Wagyu crossed                                                         
  with Holstein                                                         
  cow.                                                                  

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

# Pork Section

# 2006 Pork Market Outlook

## Pork Consumption and Imports Projected Lower in 2006 

As mentioned in the beef section, overall beef supply situation is
expected to continue to be tight in 2006. This acute shortage has
particularly affected the food service sector, especially in regards to
beef bowl, barbecue and prepared and ready-to-eat foods, which are
normally major end users of U.S. beef. Many of these end-users have been
compelled to switch to Aussie beef, pork, poultry meat, fish or lamb in
order to develop alternative dishes. This switch has particularly
created a large, although probably temporary, demand for imported pork.

Assuming that U.S. and Canadian beef imports are not resumed, the
outlook for 2006 calls for the higher than average pork demand to
continue. However, increased availability of Aussie and New Zealand
beef, a slightly weaker household and the food service demand for pork
due to a shift back to beef are likely to trim Japan's pork demand in
the coming year. In light of the above, Japan's total pork consumption
in 2006 is projected at slightly lower levels compared to the previous
year at 2.485 million MT. The total imports are also projected lower
2006 than the previous year at 1.235 million MT (down 2% for generic
pork at 1.150 million MT and up 20% for prepared and processed products
at 85,000 MT).

## Prospects Look Good for US and Canadian Seasoned Pork in 2006

The U.S. and Canada are key suppliers of seasoned ground pork (HS
1602.42.090), which is under a simple ad valorem of 20% (Outside of the
pork differential duty system) (See table 14-a and 14-b). Imported
seasoned ground pork is used to manufacture sausages for the value
segment of the market. These imports are expected to grow in 2006,
partly as a result of recent scandals related to the pork differential
duty system (See 2005 situation update and outlook section for details).

## Reasonable Trigger Levels Likely Keep Pork SG Remote in JFY 2006 

For the first time in five years, the pork safeguard (1^st^ quarter, JFY
2005) did not trigger as a result of a slowing of import growth.
Assuming that this trend continues, Japan's quarterly pork imports
should regularize with the removal of the incentive for importers to
maintain abnormally high levels of the frozen stocks (See more details
in 2005 Situation Update and Outlook Section). On a preliminary basis,
the JFY 2006 first quarter trigger level (06 April and 06 June) is
calculated at 335,369 MT, which is well above the JFY 2005 first quarter
trigger level and probably above the anticipated imports for the time
period (See table 10).

Note: Pork safeguard trigger levels are calculated at 19% above the
average imports (chilled and frozen pork combined) of three preceding
years, on quarterly basis. For example, the first quarter JFY 2006
trigger level is derived by averaging imports of Q1/03, Q1/04 and Q1/05
of the Japanese fiscal year. The result is then multiplied by 1.19.
Imports are considered to be cumulative for each successive quarter
during the Japanese fiscal year.

## Lower Domestic Pork Outputs Forecast in 2006

Domestic production in 2006 is projected to be slightly lower than last
year's levels at 1.24 million MT reflecting smaller sow numbers. Despite
a favorable price situation that has prevailed for the last several
years, a continued reduction of swine farmers, particularly family
farms, is expected. This decline is chiefly caused by the increasing
number of aging farmers and the difficulty these farmers are having in
finding successors as they retire. This trend is offset somewhat by an
anticipated increase in production by larger scale operations, which are
more capable of coping with stricter environmental controls.

### Table 10. Japanese Pork Safeguard Monitor

  ------------------ ----------- ---------- ---------- ---------- -----------
  Pork Safeguard                                                  
  Trigger Levels and                                              
  Actual Imports in                                               
  JFY 2005 (05 April                                              
  -- 06 March)                                                    

  Unit: Metric Ton                                                
  (Customs Clearance                                              
  Basis)                                                          

                     Trigger     Cum. Total April      May        June
                     Level                                        

                     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                0          0          0
  Sept.)                                                          

                                            October    November   December

  II - III (Apr. -   758,902                0          0          0
  Dec.)                                                           

                                            January    February   March

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

  Source: Ministry                                                
  of Finance (ALIC                                                
  Monthly)                                                        
  ------------------ ----------- ---------- ---------- ---------- -----------

# 2005 Situation Update and Outlook

## Heated Market Situation for Pork Began Cooling Down in 2005 

Revised swine and pork PS&D figures for CY 2005 are constructed based on
preliminary production, trade and stock data for June -- January 2005.

In 2004, mainly due to the import ban on U.S. beef and broiler meat from
key suppliers due to animal diseases (BSE and bird flu), the Japanese
pork market enjoyed an unusually high demand with record level imports,
high levels of domestic pork production, high prices. However, the
quarterly import surge also resulted in the triggering of the pork
safeguard and high year ending stocks.

In 2005, this heated situation for pork has started to cool, reflecting
overall slow down in consumption, reduced imports and lower stocks
compared to 2004. Higher than average consumption is expected to
continue throughout the year. However, the market in the first half of
2005 began to slow due to the increased supplies from 2004 as well the
consumers return to (imported) beef and to broiler meat (particularly
household consumption) mainly because of their increased supplies (See
table 2).

## High Level Total Pork Consumption and Imports to Eclipse in 2005

In light of the shift back to beef and chicken described above, Japanese
total domestic pork consumption (PS&D) in 2005 is projected to drop by 2
% to 2.521 million MT. Total annual imports, including prepared and
processed products, are projected to drop by 4% to 1.243 million MT
(1.172 million MT for chilled and frozen pork and 71,000 MT for prepared
and processed products.

For January -- June 2005, on a customs clearance basis (Product Weight),
imports of generic pork (chilled and frozen combined) were down by 6%
from the year before to 458,592 MT Specifically, chilled pork fell 5% to
92,237 MT and frozen pork fell 6% to 366,355 MT (See table 13-a, 13-b
and 13-c). In the chilled pork category, imports from the U.S. for the
same period claimed 72% of the chilled total, but dropped 4% to 66,273
MT probably because of a slow down in pork consumption in the retail
sector (See table 13-b). In the frozen pork category, imports from
Denmark, the largest frozen pork supplier to Japan, tumbled 24% from the
year before to 116,902 MT, mainly affected by sluggish consumption of
processed products and ample monthly frozen stocks available though
June. However, U.S. frozen pork imports increased 24% from the year
before to 91,667 MT reflecting solid demand for frozen loin cuts (for
pork cutlets etc.) and picnic (for sausage) (See table 13-c). The above
trend is expected to continue through the second half of 2005.

## Imports of Some Prepared Products and Sausage from China to Grow in 2005

Japan's imports of prepared and processed pork products are expected to
grow in 2005. In this category of trade, the first half 2005 imports (HS
0210.11, HS 0210.12, HS 0210.19, 1602.41, 1602.42), on customs clearance
basis (PWE), rose 28% to 26,029 MT compared to the same period last year
(see 14-a and 14-b). Increased seasoned ground pork imports under HS
1602.42.290 accounted the majority of the above increase, with the U.S.
and Canada being two key suppliers. Solid demand for such product as a
raw material for pork sausages will likely be sustained through 2006,
partly helped by a simple tariff ad valorem rate of 20% for HS
1602.42.290 (not under the differential duty system).

In addition, products in two other product HS categories are growing
fast: HS 1602,49.290 -- Prepared products using other than shoulder and
ham (ad valorem tariff rate of 20%), and HS 1601.10 -- sausage (ad
valorem tariff rate of 10%). (Note that these imports are not included
in PS&D, but will be reported in narratives and separate tables in the
future.)

The growing demand in the ready-to-eat market is expected to result in
an increase in the import of prepared products (HS 1602.49.290 --
Prepared products using other than shoulder and ham) from Asia (mainly
China), assuming that the product can meet Japan import requirements and
that HAACP control concerns are resolved. Japanese food companies have
reportedly been investing in China and other Asian countries; either
directly or as a joint venture with local companies in order to build a
manufacturing base for value added products. According to a trade press,
frozen breaded cutlets, skewered on a bamboo stick, pork beans and pork
curry and some products mixed with vegetables (cooked products) are
being fabricated in China. For January -- June 2005, imports under this
product category reached 31,777 MT (PWE), up 14 % compared to the first
half of last year. China's import share increased 30%, accounting for
over 60% of the imports of prepared product.

Also, another import from China of interest is sausage (HS 1601.01) (Not
included in the PS&D). Japanese ham and sausage manufacturing companies
are reportedly planning to shift some of their domestic production to
China and other countries in order to supply both these foreign and
domestic markets. For January -- June 2005, Japan's sausage product
imports rose 20% to 15,693 MT compared to the same period last year.
China claimed over 50% of the above HS total. With an attractive 10% low
tariff, sausage imports from China are expected to grow in the future.
This trend may eventually impact Japan's raw material frozen pork trade,
which is constrained by the complex pork differential duty system.

## Domestic Hog Slaughter to Fall in 2005

Reduced slaughter and production for the first half of 2005, which
dropped 4% from last year, point to lower production levels of domestic
pork than seen in 2004. Lower sow numbers (Preliminary 910,000 heads) at
the beginning of the year and a forecast decline in monthly slaughter by
MAFF suggest slightly lower pork production in the second half as well.
Given the above, Japanese domestic pork production in 2005 is projected
down by 2% to 1.250 million MT in 2005. In the first half, average
wholesale hog carcass prices in Tokyo market were 484 yen per kilogram,
down 2% for excellent grade and 445 yen per kilogram, up 3% for medium
grade reflecting the sluggish sales in the retail sector (See table 11).

## Pork SG Not Repeated for 5^th^ Straight Year in JFY 2005

As mentioned in the previous section, April -- June total pork imports
were considerably below the JFY 2005 first quarter SG trigger level,
which resulted in no pork safeguard from August 1, 2005 for the first
time in last five years (See table 12). This is significant because
monthly import levels should now become more consistent and stable for
the rest of this year and most likely through 2006. At the same time,
the abnormal quarterly surges and high year ending frozen stocks will
likely decrease, partly owing to anticipated slow down of speculative
purchases of frozen cuts (See the last section for more details).

In addition to the high trigger level for the first quarter JFY 2005 (05
April -- 05 June), another significant factor that helped avoid the
safeguard was a major crackdown by the GOJ on illegal pork trade. This
crackdown reportedly slowed the speculative purchases of frozen pork by
numerous brokers, which is thought to have played a role in the
quarterly surges of imports and, ultimately, the triggering of the pork
safeguard. The government continues to monitor the industry's compliance
with the pork differential duty system. As a result, overall frozen pork
imports are expected to slow as importers find it difficult to mix cuts
without having to pay the differential duty.

## GOJ Began Review of Pork Import Regime

The GOJ maintains a complex pork import regime or differential import
duty system that is basically a minimum import price system with a gate
price (524 Yen/\$4.76 per kilo plus 4.3% specific duty for pork cuts,
not carcass). There have been several public scandals recently when some
companies have reportedly evaded the differential duty (an import tax
equal to the difference between the gate price and the actual purchasing
prices), by misrepresenting the purchase prices on import documents
(invoice). Importers can legally mix relatively expensive frozen cuts
(loins) with cheaper cuts (bellies and picnic etc.) in one consignment
in order to raise the average price. However, when this average import
price is still be below the gate price, some importers have illegally
declared the purchase price just at the gate price (This way, importers
will only pay 4.3% specific duty as their import value equal to the gate
price. If the import value falls below the gate price, importers will
have to pay the difference between the import value and the gate price
plus 4.3%). The practice has also reportedly been employed by using
middlemen and brokers when importing inexpensive raw material frozen
cuts that are used domestically for manufacturing ham, bacon and
sausages products.

Some in the Japanese pork industry have repeatedly identified this
problem as creating a major distortion in supply and demand conditions.
Speculative purchases by brokers and middlemen (partly facilitated by
the illegal trade) have consistently caused a large influx of frozen
cuts near the end of the quarter with cuts of less market demand
remaining as stocks (JA 5002). According to trade sources, higher value
cuts such as frozen loins (for loin roll ham and for food service
cutlets menu etc.) tend to end up as surplus because of the practice of
importing shipments of mixed high and low priced cuts in order to avoid
paying the differential duty.

Industry data show that a total of 424,166 MT of imported frozen
boneless pork cuts were used for loin-roll ham, bacon and sausage
manufacturing in 2004. Of the above total, 343,820 MT, or 81%, were
imported raw material cuts, showing very high reliance on Japanese ham
and sausage manufacturers on imports.

Several times this year, the opposition parties in the Diet publicly
raised several scandals involving individual companies that had been
caught improperly importing pork and evading import taxes. As a result,
the GOJ began to look into the problem and has called for stricter
compliance from the industry. In addition, MAFF has reportedly started
to conduct hearings among all concerned parties such as domestic
producers, the meat industry and feed companies to determine how the
system can be improved. Reportedly, the participants were at odds with
the industry preferring a simple ad valorem or duty system based on
weight while the producers claimed that system would work if the GOJ
would stop the illegal activity and if importers would comply with the
existing regulations. MAFF has not announced any conclusions from these
meetings, but the MAFF minister did announce to the press that Japan's
pork import system be discussed at WTO talks.

### Table 11. Quarterly Average Wholesale Price of Domestic Pork Carcass

  -------------- ----------- ----------- ----------- ----------- -----------
  **Domestic                                                     
  Carcass by                                                     
  Meat Grade                                                     
  (Tokyo                                                         
  Market)**                                                      

  Unit: Yen per                                                  
  Kilogram                                                       

  Excellent                                                      
  Grade                                                          

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

  2002           498         559         510         396         491

  2003           413         460         426         397         424

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

  2004           498         487         523         424         483

  \% chg         -17%        6%          23%         7%          14%

  2005           472         496                                 

  \% chg         -5%         2%                                  

                                                                 

  Medium Grade                                                   

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

  2002           459         525         469         355         452

  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                                 

  \% chg         -3%         9%                                  

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

### Table 12. Japanese Monthly Pork Stock Estimates

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

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

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

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

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

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

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

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

### Table 13-a. Japanese Chilled and Frozen Combined Pork Imports January -- June 2005

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

  Unit:                                                                     
  Metric Ton                                                                
  (Customs                                                                  
  Clearance                                                                 
  Basis)                                                                    

                                                                \% Change   \%

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

                            Jan/Jun     Jan/Jun     Jan/Jun     Jan/Jun     Jan/Jun

  0           \--World\--   383,610     486,936     458,592     -6%         100%

  1           United States 133,724     142,589     158,040     11%         34%

  2           Denmark       103,346     154,790     117,001     -24%        26%

  3           Canada        88,244      104,332     109,995     5%          24%

  4           Chile         12,033      20,555      23,067      12%         5%

  5           Mexico        17,381      17,617      16,861      -4%         4%

  6           Hungary       7,598       10,695      7,854       -27%        2%

  7           Ireland       3,301       4,401       6,131       39%         1%

  8           Austria       1,439       5,072       5,977       18%         1%

  9           France        1,277       7,372       3,780       -49%        1%

  10          Netherlands   4,967       6,827       2,972       -56%        1%

  11          Others        10,300      12,686      6,916       -45%        2%

  Product HS                                                                
  Code: HS                                                                  
  0203                                                                      

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

### Table 13-b. Japanese Chilled Pork Imports January -- June 2005

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change  \%

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

                             Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--    87,383     97,225     92,237     -5%        100%

  1           United States  59,408     68,791     66,373     -4%        72%

  2           Canada         18,545     19,668     19,393     -1%        21%

  3           Mexico         4,382      5,008      5,077      1%         6%

  4           Australia      4,899      3,498      1,263      -64%       1%

  5           Denmark        129        185        99         -46%       0%

  6           Spain          6          22         23         5%         0%

  7           France         0          3          5          86%        0%

  8           Italy          0          21         2          -91%       0%

  9           Chile          0          0          1          #DIV/0!    0%

  10          Others         14         30         0          -100%      0%

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

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

### Table 13-c. Japanese Frozen Pork Imports January -- June 2005

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change  \%

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

                             Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--    296,226    389,711    366,355    -6%        100%

  1           Denmark        103,217    154,605    116,902    -24%       32%

  2           United States  74,316     73,799     91,667     24%        25%

  3           Canada         69,699     84,664     90,602     7%         25%

  4           Chile          12,033     20,555     23,065     12%        6%

  5           Mexico         12,999     12,609     11,783     -7%        3%

  6           Hungary        7,598      10,695     7,854      -27%       2%

  7           Ireland        3,301      4,401      6,131      39%        2%

  8           Austria        1,439      5,072      5,977      18%        2%

  9           France         1,277      7,370      3,775      -49%       1%

  10          Others         10,347     15,942     8,599      -46%       2%

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

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

### Table 13-d. Japanese Imports of Processed and Prepared Pork Products January -- June 2005

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

  Unit:                                                                  
  Metric Ton                                                             
  (Customs                                                               
  Clearance                                                              
  Basis)                                                                 

                                                              \% Change  \%

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

                             Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun    Jan/Jun

  0           \--World\--    21,009     20,402     26,028     28%        100%

  1           United States  13,455     11,911     13,610     14%        52%

  2           Canada         4,030      3,196      5,504      72%        21%

  3           China          1,902      3,603      4,281      19%        16%

  4           Chile          0          3          745        23067%     3%

  5           Denmark        684        476        688        45%        3%

  6           Others         938        1,213      1,200      -1%        5%

  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)                                                                 
  ----------- -------------- ---------- ---------- ---------- ---------- ----------

### Table 14-a. Japanese Chilled and Frozen Pork Combined Imports CY 2004

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

  Unit:                                                                 
  Metric Ton                                                            
  (Customs                                                              
  Clearance                                                             
  Basis)                                                                

                                                             \% Change  \%

  Rank        Country       2002       2003       2004       \- 04/03 - \- 04
                                                                        Share -

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

  0           \--World\--   777,582    752,601    863,801    15%        100%

  1           Denmark       239,884    219,909    267,695    22%        31%

  2           United States 248,867    245,428    256,110    4%         30%

  3           Canada        179,117    166,604    184,916    11%        21%

  4           Chile         21,586     28,189     38,954     38%        5%

  5           Mexico        40,633     34,474     32,665     -5%        4%

  6           Hungary       16,858     14,414     17,257     20%        2%

  7           Netherlands   617        9,693      12,276     27%        1%

  8           France        0          5,753      12,071     110%       1%

  9           Austria       3,377      2,973      9,093      206%       1%

  10          Others        26,642     25,165     32,765     30%        4%

  HS Product                                                            
  Code: HS                                                              
  0203                                                                  

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

### Table 14-b. Japanese Imports of Prepared and Processed Pork Products CY 2004

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

  Unit:                                                                 
  Metric Ton                                                            
  (Customs                                                              
  Clearance                                                             
  Basis)                                                                

                                                             \% Change   

  Rank        Country       2002       2003       2004       \- 04/03 - \- 04
                                                                        Share -

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

  0           \--World\--   35,008     39,597     46,513     17%        100%

  1           United States 22,101     24,329     24,601     1%         53%

  2           China         3,357      4,406      8,965      103%       19%

  3           Canada        7,142      7,350      9,033      23%        19%

  4           Italy         830        959        933        -3%        2%

  5           Spain         0          23         145        532%       0%

  6           Australia     770        839        769        -8%        2%

  7           Denmark       226        1,225      1,123      -8%        2%

  8           Thailand      162        204        247        21%        1%

  9           Others        420        263        696        164%       1%

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

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

# Cattle PS&D Table

+---------------------+-----+-----+-----+-----+-----+-----+---------+
| **Japan**           |     |     |     |     |     |     |         |
|                     |     |     |     |     |     |     |         |
| ###### Ani          |     |     |     |     |     |     |         |
| mal Numbers, Cattle |     |     |     |     |     |     |         |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
|                     | 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  | Est | Of  | Est | Of  | Es  |         |
|                     | fic | ima | fic | ima | fic | tim |         |
|                     | ial | te\ | ial | te\ | ial | ate |         |
|                     | \   | [Ne | \   | [Ne | \   |     |         |
|                     | [Ol | w\] | [Ol | w\] | [Ol | \   |         |
|                     | d\] |     | d\] |     | d\] | [Ne |         |
|                     |     |     |     |     |     | w\] |         |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Market Year Begin   |     | 0   |     | 0   |     | 0   | MM/YYYY |
|                     |     | 1/2 |     | 1/2 |     | 1/2 |         |
|                     |     | 004 |     | 005 |     | 006 |         |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Cattle Beg.   | 4   | 4   | 4   | 4   | 4   | 4   | (1000   |
| Stks                | 478 | 478 | 420 | 401 | 370 | 340 | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Dairy Cows Beg.     | 936 | 936 | 930 | 910 | 0   | 900 | (1000   |
| Stks                |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Beef Cows Beg.      | 624 | 624 | 630 | 623 | 0   | 620 | (1000   |
| Stocks              |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Production (Calf    | 1   | 1   | 1   | 1   | 0   | 1   | (1000   |
| Crop)               | 425 | 425 | 420 | 375 |     | 360 | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Intra EC Imports    | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Imports       | 21  | 22  | 20  | 22  | 0   | 22  | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL Imports       | 21  | 22  | 20  | 22  | 0   | 22  | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL SUPPLY        | 5   | 5   | 5   | 5   | 4   | 5   | (1000   |
|                     | 924 | 925 | 860 | 798 | 370 | 722 | 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 | 0   | 550 | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Calf Slaughter      | 10  | 10  | 5   | 10  | 0   | 10  | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Other Slaughter     | 681 | 681 | 690 | 660 | 0   | 660 | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Total Slaughter     | 1   | 1   | 1   | 1   | 0   | 1   | (1000   |
|                     | 265 | 265 | 255 | 230 |     | 220 | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Loss                | 239 | 259 | 235 | 228 | 0   | 225 | (1000   |
|                     |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Ending Inventories  | 4   | 4   | 4   | 4   | 0   | 4   | (1000   |
|                     | 420 | 401 | 370 | 340 |     | 277 | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| TOTAL DISTRIBUTION  | 5   | 5   | 5   | 5   | 0   | 5   | (1000   |
|                     | 924 | 925 | 860 | 798 |     | 722 | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr. Imp.   | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| from U.S.           |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+
| Calendar Yr. Exp.   | 0   | 0   | 0   | 0   | 0   | 0   | (1000   |
| to U.S.             |     |     |     |     |     |     | HEAD)   |
+---------------------+-----+-----+-----+-----+-----+-----+---------+

# Beef PS&D Table

+------------------------+----+----+----+----+----+----+---------+
| **Japan**              |    |    |    |    |    |    |         |
|                        |    |    |    |    |    |    |         |
| **Meat, Beef and       |    |    |    |    |    |    |         |
| Veal**                 |    |    |    |    |    |    |         |
+------------------------+----+----+----+----+----+----+---------+
|                        | 20 | R  | 20 | Es | 20 | Fo | UOM     |
|                        | 04 | ev | 05 | ti | 06 | re |         |
|                        |    | is |    | ma |    | ca |         |
|                        |    | ed |    | te |    | st |         |
+------------------------+----+----+----+----+----+----+---------+
|                        | US | Po | US | Po | US | Po |         |
|                        | DA | st | DA | st | DA | st |         |
|                        | Of | E  | Of | E  | Of | E  |         |
|                        | fi | st | fi | st | fi | st |         |
|                        | ci | im | ci | im | ci | im |         |
|                        | al | at | al | at | al | at |         |
|                        | \  | e\ | \  | e\ | \  | e\ |         |
|                        | [O | [N | [O | [N | [O | [N |         |
|                        | ld | ew | ld | ew | ld | ew |         |
|                        | \] | \] | \] | \] | \] | \] |         |
+------------------------+----+----+----+----+----+----+---------+
| Market Year Begin      |    | 0  |    | 0  |    | 0  | MM/YYYY |
|                        |    | 1/ |    | 1/ |    | 1/ |         |
|                        |    | 20 |    | 20 |    | 20 |         |
|                        |    | 04 |    | 05 |    | 06 |         |
+------------------------+----+----+----+----+----+----+---------+
| Slaughter (Reference)  | 12 | 12 | 12 | 12 | 0  | 12 | (1000   |
|                        | 65 | 65 | 55 | 30 |    | 15 | HEAD)   |
+------------------------+----+----+----+----+----+----+---------+
| Beginning Stocks       | 1  | 1  | 90 | 90 | 89 | 90 | (1000   |
|                        | 10 | 10 |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Production             | 5  | 5  | 5  | 5  | 0  | 4  | (1000   |
|                        | 13 | 13 | 05 | 00 |    | 95 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Intra EC Imports       | 0  | 0  | 0  | 0  | 0  | 0  | (1000   |
|                        |    |    |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Total Imports          | 6  | 6  | 6  | 7  | 0  | 7  | (1000   |
|                        | 17 | 45 | 25 | 21 |    | 50 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| TOTAL Imports          | 6  | 6  | 6  | 7  | 0  | 7  | (1000   |
|                        | 17 | 45 | 25 | 21 |    | 50 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| TOTAL SUPPLY           | 12 | 12 | 12 | 13 | 89 | 13 | (1000   |
|                        | 40 | 68 | 20 | 11 |    | 35 | 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. Consumption | 11 | 11 | 11 | 12 | 0  | 12 | (1000   |
|                        | 50 | 78 | 31 | 21 |    | 41 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Other Use, Losses      | 0  | 0  | 0  | 0  | 0  | 0  | (1000   |
|                        |    |    |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| TOTAL Dom. Consumption | 11 | 11 | 11 | 12 | 0  | 12 | (1000   |
|                        | 50 | 78 | 31 | 21 |    | 41 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Ending Stocks          | 90 | 90 | 89 | 90 | 0  | 94 | (1000   |
|                        |    |    |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| TOTAL DISTRIBUTION     | 12 | 12 | 12 | 13 | 0  | 13 | (1000   |
|                        | 40 | 68 | 20 | 11 |    | 35 | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Calendar Yr. Imp. from | 1  | 1  | 0  | 0  | 0  | 0  | (1000   |
| U.S.                   |    |    |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+
| Calendar Yr. Exp. to   | 0  | 0  | 0  | 0  | 0  | 0  | (1000   |
| U.S.                   |    |    |    |    |    |    | MT CWE) |
+------------------------+----+----+----+----+----+----+---------+

#  Swine PS&D Table

+------------------------+----+----+----+----+----+----+----------+
| **Japan**              |    |    |    |    |    |    |          |
|                        |    |    |    |    |    |    |          |
| **Animal Numbers,      |    |    |    |    |    |    |          |
| Swine**                |    |    |    |    |    |    |          |
+------------------------+----+----+----+----+----+----+----------+
|                        | 20 | R  | 20 | Es | 20 | Fo | UOM      |
|                        | 04 | ev | 05 | ti | 06 | re |          |
|                        |    | is |    | ma |    | ca |          |
|                        |    | ed |    | te |    | st |          |
+------------------------+----+----+----+----+----+----+----------+
|                        | US | Po | US | Po | US | Po |          |
|                        | DA | st | DA | st | DA | st |          |
|                        | Of | E  | Of | E  | Of | E  |          |
|                        | fi | st | fi | st | fi | st |          |
|                        | ci | im | ci | im | ci | im |          |
|                        | al | at | al | at | al | at |          |
|                        | \  | e\ | \  | e\ | \  | e\ |          |
|                        | [O | [N | [O | [N | [O | [N |          |
|                        | ld | ew | ld | ew | ld | ew |          |
|                        | \] | \] | \] | \] | \] | \] |          |
+------------------------+----+----+----+----+----+----+----------+
| Market Year Begin      |    | 0  |    | 0  |    | 0  | MM/YYYY  |
|                        |    | 1/ |    | 1/ |    | 1/ |          |
|                        |    | 20 |    | 20 |    | 20 |          |
|                        |    | 04 |    | 05 |    | 06 |          |
+------------------------+----+----+----+----+----+----+----------+
| TOTAL Beginning Stocks | 97 | 97 | 96 | 96 | 96 | 96 | (1000    |
|                        | 24 | 24 | 30 | 00 | 20 | 00 | HEAD)    |
+------------------------+----+----+----+----+----+----+----------+
| Sow Beginning Stocks   | 9  | 9  | 9  | 9  | 0  | 9  | (1000    |
|                        | 18 | 18 | 15 | 15 |    | 00 | HEAD)    |
+------------------------+----+----+----+----+----+----+----------+
| Production (Pig Crop)  | 1  | 1  | 1  | 1  | 0  | 1  | (1000    |
|                        | 72 | 71 | 72 | 70 |    | 69 | HEAD)    |
|                        | 30 | 60 | 20 | 00 |    | 20 |          |
+------------------------+----+----+----+----+----+----+----------+
| 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  | 96 | 2  | (1000    |
|                        | 69 | 68 | 68 | 66 | 20 | 65 | HEAD)    |
|                        | 54 | 84 | 50 | 00 |    | 20 |          |
+------------------------+----+----+----+----+----+----+----------+
| 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  | 0  | 1  | (1000    |
|                        | 65 | 65 | 64 | 63 |    | 62 | HEAD)    |
|                        | 48 | 78 | 50 | 00 |    | 00 |          |
+------------------------+----+----+----+----+----+----+----------+
| Total Slaughter        | 1  | 1  | 1  | 1  | 0  | 1  | (1000    |
|                        | 65 | 65 | 64 | 63 |    | 62 | HEAD)    |
|                        | 48 | 78 | 50 | 00 |    | 00 |          |
+------------------------+----+----+----+----+----+----+----------+
| Loss                   | 7  | 7  | 7  | 7  | 0  | 7  | (1000    |
|                        | 76 | 06 | 80 | 00 |    | 20 | HEAD)    |
+------------------------+----+----+----+----+----+----+----------+
| Ending Inventories     | 96 | 96 | 96 | 96 | 0  | 96 | (1000    |
|                        | 30 | 00 | 20 | 00 |    | 00 | HEAD)    |
+------------------------+----+----+----+----+----+----+----------+
| TOTAL DISTRIBUTION     | 2  | 2  | 2  | 2  | 0  | 2  | (1000    |
|                        | 69 | 68 | 68 | 66 |    | 65 | HEAD)    |
|                        | 54 | 84 | 50 | 00 |    | 20 |          |
+------------------------+----+----+----+----+----+----+----------+
| Calendar Yr. Imp. from | 1  | 1  | 1  | 1  | 0  | 1  | (HEAD)   |
| U.S.                   | 20 | 20 | 20 | 20 |    | 00 |          |
+------------------------+----+----+----+----+----+----+----------+
| Calendar Yr. Exp. to   | 0  | 0  | 0  | 0  | 0  | 0  | (HEAD)   |
| U.S.                   |    |    |    |    |    |    |          |
+------------------------+----+----+----+----+----+----+----------+

#  Pork PS&D Table

+-----------------+------+------+------+------+------+----+---------+
| **Japan**       |      |      |      |      |      |    |         |
|                 |      |      |      |      |      |    |         |
| **Meat, Swine** |      |      |      |      |      |    |         |
+-----------------+------+------+------+------+------+----+---------+
|                 | 2004 | Rev  | 2005 | Esti | 2006 | Fo | UOM     |
|                 |      | ised |      | mate |      | re |         |
|                 |      |      |      |      |      | ca |         |
|                 |      |      |      |      |      | st |         |
+-----------------+------+------+------+------+------+----+---------+
|                 | USDA | Post | USDA | Post | USDA | Po |         |
|                 | Offi | Est  | Offi | Est  | Offi | st |         |
|                 | cial | imat | cial | imat | cial | E  |         |
|                 | \[O  | e\[N | \[O  | e\[N | \[O  | st |         |
|                 | ld\] | ew\] | ld\] | ew\] | ld\] | im |         |
|                 |      |      |      |      |      | at |         |
|                 |      |      |      |      |      | e\ |         |
|                 |      |      |      |      |      | [N |         |
|                 |      |      |      |      |      | ew |         |
|                 |      |      |      |      |      | \] |         |
+-----------------+------+------+------+------+------+----+---------+
| Market Year     |      | 01/  |      | 01/  |      | 0  | MM/YYYY |
| Begin           |      | 2004 |      | 2005 |      | 1/ |         |
|                 |      |      |      |      |      | 20 |         |
|                 |      |      |      |      |      | 06 |         |
+-----------------+------+------+------+------+------+----+---------+
| Slaughter       | 1    | 1    | 1    | 1    | 0    | 1  | (1000   |
| (Reference)     | 6548 | 6578 | 6450 | 6300 |      | 62 | HEAD)   |
|                 |      |      |      |      |      | 00 |         |
+-----------------+------+------+------+------+------+----+---------+
| Beginning       | 211  | 211  | 214  | 223  | 186  | 1  | (1000   |
| Stocks          |      |      |      |      |      | 95 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Production      | 1271 | 1271 | 1260 | 1250 | 0    | 12 | (1000   |
|                 |      |      |      |      |      | 40 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Intra EC        | 0    | 0    | 0    | 0    | 0    | 0  | (1000   |
| Imports         |      |      |      |      |      |    | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Total Imports   | 1302 | 1301 | 1325 | 1243 | 0    | 12 | (1000   |
|                 |      |      |      |      |      | 35 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| TOTAL Imports   | 1302 | 1301 | 1325 | 1243 | 0    | 12 | (1000   |
|                 |      |      |      |      |      | 35 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| TOTAL SUPPLY    | 2784 | 2783 | 2799 | 2716 | 186  | 26 | (1000   |
|                 |      |      |      |      |      | 70 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Intra EC        | 0    | 0    | 0    | 0    | 0    | 0  | (1000   |
| Exports         |      |      |      |      |      |    | 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.      | 2570 | 2560 | 2613 | 2521 | 0    | 24 | (1000   |
| Consumption     |      |      |      |      |      | 85 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Other Use,      | 0    | 0    | 0    | 0    | 0    | 0  | (1000   |
| Losses          |      |      |      |      |      |    | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| TOTAL Dom.      | 2570 | 2560 | 2613 | 2521 | 0    | 24 | (1000   |
| Consumption     |      |      |      |      |      | 85 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Ending Stocks   | 214  | 223  | 186  | 195  | 0    | 1  | (1000   |
|                 |      |      |      |      |      | 85 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| TOTAL           | 2784 | 2783 | 2799 | 2716 | 0    | 26 | (1000   |
| DISTRIBUTION    |      |      |      |      |      | 70 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Calendar Yr.    | 393  | 401  | 393  | 393  | 0    | 3  | (1000   |
| Imp. from U.S.  |      |      |      |      |      | 79 | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+
| Calendar Yr.    | 0    | 0    | 0    | 0    | 0    | 0  | (1000   |
| Exp. to U.S.    |      |      |      |      |      |    | MT CWE) |
+-----------------+------+------+------+------+------+----+---------+

#