South Korea: Calf prices plummeted in January, what could be the cause?

Published 2022년 2월 16일

Tridge summary

The GSnJ Institute has reported a significant decrease in calf prices in January, with a 11.7% drop for Korean beef calves and 15.8% drop for heifer calves compared to the same period last year. This decline is linked to the fall in wholesale Korean beef prices. Additionally, the institute noted a decrease in sales of artificial insemination fluid and a rise in the cow slaughter rate, both indicating a decrease in the intention to raise cows.

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

Original content

[Reporter Lee Dong-il of Livestock Newspaper] “Cooling of stocking intentions following the decline in wholesale prices” Calf prices are plummeting. According to the Korean beef trend report by GSnJ Institute, the price of Korean beef calf in January this year was 3.35 million won, which was 11.7% lower than the same month last year. The price of calf broke the record high with an average price of 4.43 million won in June last year, and then began to decline. In January, the price of a heifer traded at 2.86 million won, 15.8% lower than the same month last year, and the price of a bull calf fell 8.4% to an average price of 3.84 million won. In response, GSnJ said that as the decline in the wholesale price of Korean beef started in earnest, the intention to stock up calves rapidly cooled, and the price of calves was found to be falling more steeply. Sales of artificial insemination fluid have also been declining since August and September last year. The annual artificial ...

Source: Chuksannews