Abstract
This paper reports on analysis of the factors of retail price formation of Wagyu beef parts by the time-series analysis and the multiple regression analysis using monthly data of the past 29 years up to 2020 and after the beef import tariff measures (beef import liberalization). The results show that for all response variables, the retail price of imported beef from Australia of same parts and the retail price of domestic pork fluctuate in the same direction. However, these results are not statistically significant up to 5% of the t-test with the retail price of imported pork. Wagyu beef parts have a strong alternative relation with domestic pork as well as Australian beef of same parts, but are less affected by imported pork, which is relatively inexpensive. It was also clarified that the retail prices of Wagyu beef parts are positively correlated with the retail prices of Australian beef of same parts. This result indicates that the same meats are in an alternative relation. Furthermore, it was clarified that the retail prices of Wagyu beef chuck roll, Wagyu beef brisket and Wagyu beef round showed an opposite movement to the ending stocks, and that the ending stocks greatly affect the retail price formation for Wagyu beef parts. Beef is a fresh food and a certain extent of time by refrigeration and freezing can preserve it, but it is difficult to keep it in good condition for a long time. Therefore, an increase of ending stocks leads to a decrease in price.
