South Korean beef calf prices are falling, breeders advised to prepare

Published 2022년 2월 18일

Tridge summary

The GS&J Institute has warned Korean beef farmers about the declining prices of Korean beef calves, with the wholesale price peaking at 22,610 won in September 2021 and falling to 19,966 won in January 2022, a 2.1% decrease from the previous year. This decline has led to a decrease in calf prices, with the average price per calf in January 2022 being 22.8% lower than in September 2021. The institute has recommended that integrated breeding farms increase the proportion of cow fattening and slaughter, and has called on the government to support breeding-oriented farms to prevent the collapse of the Korean cattle breeding base.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As the price of Korean beef calf is on the decline, it has been pointed out that farmers who mainly breed Korean beef should be particularly prepared. GS&J Institute made this statement through ‘Hanwoo Trend’ announced on the 15th. The wholesale price of Korean beef (based on 1 kg of carcass) peaked at 22,610 won in September last year, and then began to decline, dropping to 19,966 won in January of this year. This is a 2.1% decrease from the price in January last year (23,395 won). As the decline in the wholesale price of Korean beef started in earnest, the intention to stock up calves rapidly cooled, leading to a decline in calf prices. In January of this year, the average price per calf (6-7 months old) was 3353,000 won. This is a 22.8% decrease compared to September last year (4,341,000 won) and 11.7% lower than in January of last year. The 'calf price multiplier' estimated using the wholesale price of Korean beef and the price of veal has been maintained at ...

Source: Nongmin