Livestock product shipment information in South Korea (November 28 to December 2): Increased year-end demand and price rebound

Published 2022년 12월 7일

Tridge summary

Korean beef prices have recently rebounded due to discount sales by retailers and increased demand for year-end parties. Despite an anticipated prolonged downward trend, no significant drop is expected for the time being. 9,179 Korean cattle were auctioned at the national wholesale market, a 5.25% decrease from the previous week, with the average meridian value of Korean castrated cattle increasing by 0.02% to 18,959 won per kg. 873 beef cattle were traded, a 4.17% decrease from the previous week, with the average meridian value per 1kg increasing by 0.005% to 9,819 won.

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

Original content

The price of Korean beef has rebounded. The recent decline has temporarily rebounded on discount sales by retailers and increased demand for year-end parties. Although the downward trend of Korean beef prices is expected to be prolonged, there is no significant drop for the time being, as the peak season at the end of the year and the beginning of the year and the Lunar New Year holiday (January 22nd) early next year are expected. A total of 9,179 Korean cattle were auctioned at the national wholesale market, down 5.25% from the previous week. The average meridian value of Korean castrated cattle was 18,959 won per 1 kg of carcass, up 289 won from the previous week. Grade 1++A increased by 378 won to 23,357 won per kg, ...

Source: Nongmin