Concerns about falling South Korean beef prices due to supply-demand imbalance

(Dangjin = Yonhap News) Reporter Jeong Chan-wook = Dangjin-si, Chungcheongnam-do, said that it is concerned that the price drop due to the imbalance in the supply and demand of Korean beef will deteriorate the management of livestock farms. According to the city of Dangjin on the 17th, the amount of Korean beef that can be shipped nationwide in the fourth quarter of this year has increased by 6-9.2% compared to last year, and the average wholesale price of meat per kg is expected to range from 18,500 to 19,000 won. It is expected that the decline in wholesale prices will increase due to weak demand. The average winning bid price of the recent Dangjin Livestock Cooperative Korean beef calf auction market fell 34% and 22%, respectively, from last year's average to 2.25 million won for a calf and 3.46 million won for a calf. In order to preemptively respond to the supply and demand imbalance of Korean cattle, the city slaughtered 479 cows under the age of 40 months through a subsidy ...