Europe: European Beef Cattle Trend Reports as of November 2022
In Europe, the shortage of mature cattle keeps prices at high levels. European production continues to contract in the first eight months of 2022 by 1.5%, confirming the negative trend of the last three years. Inflation has begun to affect the consumption of beef in many countries hence decreasing. The production situation in Italy reflects the consequences of the increase in feed costs, with a greater number being sent to the slaughter of animals to be reformed: +2.7% slaughtered animals of which a fifth belongs to the cow category +12% compared to 2021. Clearly rising prices above the seasonal averages of previous years, driven not only by the increase in costs but also by the high prices of other European countries. Farm prices for bullocks in October increased 22% on the previous three-year average, cows up by 32%.
Europe: Beef Demand Could Decline in Europe in 2023
In Europe the RaboResearch report forecasts that beef consumption will come under pressure because of “tightening” consumer budgets. It also details that key factors such as “the ageing producer base, low profitability, and environmental issues” will remain dominant in 2023. According to RaboResearch producer margins improved slightly in 2022 but Rabobank has warned it is unlikely this trend will continue. The research report highlights ” increasing investments that will be needed to address environmental issues in beef production” including reducing greenhouse gas emissions and decreasing nitrogen emissions in the European Union. Rabobank said this will “likely impact cost-price and profitability of beef producers”.
Brazil: Prices at the Fat Ox Market in São Paulo
The industries, with the need to advance the scales, offered more USD 0.95 each (R$5.00) for all categories monitored by Scot Consultoria, including the “Chinese cattle”, in comparison with the previous day (1/12). In the Northwest, an increase of USD 0.38 each (R$2.00) of fat cattle and, for females, prices were stable.
Brazil: Slaughter of Cattle Grows in the 3rd Quarter of 2022
In the 3rd quarter of 2022, 7.85 million head of cattle were slaughtered under some type of health inspection service. There was an increase of 11.9% compared to the 3rd quarter of 2021 and an increase of 6.3% compared to the 2nd quarter of 2022. The production of 2.13 million tons of beef carcasses in the 3rd quarter of 2022 consisted of an increase of 11.6% compared to the same quarter of the previous year, and an increase of 9.6% compared to the 2nd quarter of 2022.
Brazil: Boost for the Mercosur Steer
The average value of the steer in the Mercosur was confirmed again in the week driven mainly by Brazil. The Mercosur Steer Fax Heat Index rose 3 cents to USD 3.40/kg carcass, the highest value in seven weeks.The main bullish argument was Brazil, with an increase in prices in reais that was boosted by the 0.9% appreciation of the exchange rate. The average value of boi gordo in Brazil rose 9 cents in the week to USD 3.34/kg; accumulates an increase of 20 cents in the last two weeks. In Argentina, the export steer remained firm with a rise of 1 cent to USD 3.59/kg carcass. In Uruguay and Paraguay the trend was downward. In Uruguay, the special steer dropped 10 cents to USD 3.50, while in Paraguay the bull for slaughter dropped between 5 and 10 cents to USD 3.20.
Brazil: Mato Grosso Leads Cattle Slaughter, According to IBGE
attle slaughter in Brazil increased 11.9% in the 3rd quarter of 2022 compared to the same period of 2021, according to data from the Livestock Production Statistics, from the Brazilian Institute of Geography and Statistics (IBGE), released on December 7. In all, 7.85 million animals were slaughtered in July, August and September of this year. In the same period of the previous year, 7.3 million cattle were slaughtered across the country. In the ranking of States, Mato Grosso continues leading the slaughter of cattle, with 15.8% of the national share, followed by São Paulo (11.7%), Goiás (10.7%) and Mato Grosso do Sul (10.3 %). Also according to the IBGE, the month of August was the most active, when 2.69 million heads were slaughtered, totaling 5.8% above the equivalent month of 2021. 2.56 million heads slaughtered.
New Zealand: Meat Slaughter Saleyard Prices in North Island for W48
Grass cover continues to exceed expectations due to warmer weather and good rainfall conditions as summer approaches. These improved grazing conditions contribute to higher volumes at the sale yards and continue the downward pressure on prices as expected. Exported prices are expected to decrease as volumes increase and warmer weather with good rainfall arises. The average local slaughter price trend for W48 is as follows: Steer NI P2 (300kg): USD 4.03/kg (NZD 6.30/kg), a 2.3% drop in price compared to W47 when prices stood at USD 4.13/kg (NZD 6.45/kg)
Purchase price for live cattle from the beginning of November this year is quite stable. On November 14-20, it amounted to USD 2.51/kg (PLN 11.06) compared to USD 2.50/kg (PLN 11.05) in the previous week. Livestock was more expensive by 1% and 19%, respectively, than a month ago and a year ago. In the third week of November this year. Beef quarters compensated from bulls up to 2 years old were sold at USD 4.90/kg (PLN 21.63) , which is USD 0.029/kg (PLN 0.13) cheaper than a week earlier and 6% cheaper than a month ago. Compared to the prices from a year ago, quarters were 8% more expensive.
Argentina: Due to the Drought, 50% Of the Bovine Stock Is at Risk
According to the latest report from the Drought Monitoring Board, made up of the Ministry of Agriculture, Livestock and Fisheries and official organisations, until last month the drought severely affected some 22 million hectares, involving approximately a third of the national stock, about 18.57 million heads located in the central area of the Pampas region -north of Buenos Aires, south of Entre Ríos, south-central Santa Fe and central Córdoba. Many of the areas marked until then under conditions of moderate and even mild drought, today are in a limited situation given the low level of reserves that they accumulated and the high temperatures that have been occurring. Although areas of central Buenos Aires and some coastal districts, as well as parts of La Pampa, South Córdoba and San Luis have been receiving rain, the rest of the focus has expanded, moving north of the indicated region. Currently, the enlarged photo already involves a large part of Entre Ríos, Santa Fe, Center-north of Córdoba and Santiago del Estero. During November, 1,192,410 animals were sent to slaughter, this is 6% more than what was sent the previous month. Under this scenario, more than 50% of the national stock is at risk, approximately 30 million animals. Indeed, deaths on the farm are beginning to be reported and a higher percentage of empty cows that, by state, not only come to cycle, but are also unable to raise calves. Consequently, a lot of income continues to come out of the fields.
Argentina: Beef Producers Are Concerned About the Future of the Sector
"During the last 11 months, all the indicators clearly show a decoupling between the values of the farm, inputs, final products and inflation," they said from the Argentine Chamber of Beef Producers. The document indicates that the interannual adjustment of the INMAG (Índice Novillo Mercado Agroganadero) barely reaches 30%, while the inputs have marked adjustments of more than 60%, even reaching values above inflation in most cases, which according to data officers accumulates 87% in the said period. In short, from the Chamber they ask the competent authorities to act accordingly by declaring an agricultural emergency and articulating real measures that help producers to alleviate the critical situation: elimination and deferral of taxes, soft credits for the purchase of inputs and food for the farm are some of the necessary measures. “We beef producers are in the continuous search for work, production, quality and development of the country, of Argentines and their future generations. The situation restricts progress, and that is why we require our officials to act quickly to defend one of the most important sources of work and federal roots in the country."
Russia: The Government of the Russian Federation in 2023 Subsidizes the Cultivation of Cattle for USD 9.34 Million
From January 1, 2023, livestock breeders will be able to receive a new type of support - subsidies to reimburse part of the costs of raising cattle and subsequent production, USD 9.34 million (600 million rubles) are provided for this measure next year, according to the government website on Saturday. The corresponding decree, dated December 1, was signed by Prime Minister Mikhail Mishustin.
China: The Transformation and Upgrading of the Beef Cattle Industry in Jiajiang County, Sichuan Has Achieved Initial Results
In recent years, Jiajiang County has thoroughly implemented the decision-making and deployment of the central government, the province, and the city, accelerated the transformation of retail households, and improved the level of large-scale breeding of beef cattle. The development of the beef cattle industry has achieved real results. Pig farmers, after experiencing the African swine fever epidemic, suffered certain economic losses. Due to the prevention and control of pig breeding epidemics and high standards of biosafety technology, they transferred pig houses to develop beef cattle breeding. There are 30 beef cattle farmers in Datong Village, Datong Village, and Ganlu Village, with 2,500 beef cattle in stock and an annual output value of USD 5.17 million (36 million yuan). The combination of manure and surrounding vegetable and fruit industries realises the cycle of planting and breeding. The second is the development of moderate-scale standardised breeding through supporting the large-scale development of beef cattle breeding, and speed up the construction and upgrading of farms. The beef cattle standardised farms represented by Jiajiang County Feixiang Livestock and Poultry Breeding Professional Cooperative have remodelled and upgraded the farms, adopting semi-open pens and supporting automatic drinking water, mechanical manure cleaning and other facilities and equipment. Currently there are 490 beef cattle in stock, through transformation and upgrading, the degree of intensification has been continuously improved, and the economic benefits have been significantly improved.
Romania: Golden Jackals Are Decimating Flocks of Sheep and Cattle
According to industry organisations quoted on Thursday by the Agrointel portal, the increase in jackal attacks is the result of the "rapid and uncontrolled" increase in the population of this animal in the Danube Delta. “Its numbers are increasing at an alarming rate. Jackals have caused great damage not only to sheep and cattle breeders, but also to wild animals: deer, young wild boars and birds" informed Agrointel. According to breeders' accounts, guarding a flock of sheep and cattle against jackals is difficult. "The jackal is a very cunning predator. You guard the herd, but it waits for you to leave. It attacks when the shepherd moves away from his animals," said one cattle farmer in western Romania.
Colombia: Cattle Price and Supply Drop In Córdoba and Sucre in November
According to the Observatory of Agricultural Prices and Costs of the Northwestern Colombian Caribbean Zone (OPCA), in November the price index received by the producer in all categories, except for male fattening, deteriorated, while the nominal and real price for kilo were reduced. On the other hand, although the offer entered at auctions and fairs was lower, it continues to grow compared to the same month of 2021. In the northern cattle-raising region of Colombia, this indicator had the same signal. This was the behaviour of the cattle trade in the penultimate month. The supply of cattle at auctions of live cattle, male and female, of first quality, was 40,300 heads in November, 1.5% less than that of October. Second class auctioned cattle were 16,154, 11.3 % above the amount of the previous month. In the northern livestock region of Colombia, made up of Antioquia (Urabá and Caucasia auctions, and the Medellín fair and auction) and 4 Caribbean departments (Córdoba, Sucre, Cesar and Bolívar), the supply decreased from 86,401 animals in October to 79,171 in November, a reduction of 8.4%. Using the 12-month cumulative growth rate, supply grew by 13.5% compared to November 2021. In the northern livestock region it also had a positive performance, increasing 5.2%.
Vietnam: Preventing Smuggling of Buffaloes and Cows Across the Border Between Laos and Cambodia Into Vietnam
The Ministry of Agriculture and Rural Development said that, according to reports from specialised veterinary agencies and media agencies, over the past time, the phenomenon of illegally trading and transporting buffaloes and cows across the central border and South Vietnam into Vietnam is quite common and complicated, especially the border with Laos and Cambodia. This phenomenon increases the risk of infection and spread of dangerous diseases in animals such as foot-and-mouth disease (FMD), skin rash (VDNC) and more, which do not meet animal hygiene requirements, health and food safety, hence there is a risk of seriously affecting the domestic livestock industry and people's health. In order to urgently put an end to the above situation, the Ministry of Agriculture and Rural Development has sent a document to request localities to strengthen inspection and control, especially at border gates, trails and openings in border areas to promptly detect and strictly handle cases of illegal trade and transportation of animals, specifically buffaloes and cows, products from buffaloes and cows into Vietnam. Localities need to make sure to stop the illegal import, transportation and trade of buffaloes and cows into Vietnam at trails, openings, especially in border areas with Laos and Cambodia.
South Korea: Livestock Product Shipment Information
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 USD 138.82/kg (18,959 won) of carcass, up USD 2.12 (289 won) from the previous week. Grade 1++A increased by USD 2.77 (378 won) to USD 171.02/kg (23,357 won), and grade 1++B increased by USD 4.21 (575 won) to USD 157.43 (21,500 won). 873 beef cattle were traded, down 4.17% from the previous week, and the average meridian value per 1kg was USD 71.90 (9,819 won), up USD 0.40 (54 won).
South Korea: In the Passive Controlling of Supply and Demand of South Korean Beef, the Prices Drop
Hanwoo Fund Management Committee Symposium Preemptive Cow Reduction Performance Poor performance resulted in excess number of cattle, resulting in high-quality differentiation strategy for low-capacity cattle in a hurry to ship out voices are rising. According to the Korea Rural Economic Institute, the number of Korean cattle raised in December this year is expected to reach a record high of 3,557,000 and 3,577,000 in December next year. The average wholesale price of Korean beef next year is expected to be between USD 12.96 and USD 6.10/kg (17,000 and 8,000 won) lower than this year. Since 2019, Nonghyup Economic Holdings and the National Korean Beef Association have promoted preemptive reduction of cows, such as promoting the fattening support project for low-capacity breeding cattle and non-breeding cattle. The purpose is to maintain supply and demand control and improve effect by providing incentives such as fixed subsidy and excellent semen to farmhouses that do not use cows for breeding but slaughter them. However, the boom in the Korean beef industry continued for several years, and the target number was not met. A significant number of farmhouses that made a fattening agreement watched market trends and waited for the slaughter time of the contracted animals, but did not lead to actual slaughter. As the price of Korean beef has recently fallen and anxiety among farmers has heightened, this atmosphere seems to be reversing. Since August of this year, the Nonghyup has received applications for reduction of a total of 60,000 cattle, including 40,000 Korean cattle fattening support projects and 20,000 autonomous reduction projects through the '2nd Korean cattle cattle fattening support project'.
Global: Global Beef Price Drop in November According to FAO
The FAO food price index pointed out that beef, after having reached a historic peak in prices last June, continues in continuous devaluation. Last November, it retreated to the mark of 118.32 points, almost the same value recorded in June 2021. That is, in addition to retreating 3.30% compared to the previous month and 8.28% compared to November of last year, registered the lowest value of the last 18 months. But in the average of the first 11 months of 2022, it accumulates an increase of 11%. Explaining the market movements observed from October to November, FAO points out that an increase in supply from Australia added to the already high supply from Brazil, hence the fall in the price of beef.
Tridge Analysis: Brazilian Beef Exports in November Drop to Lowest Point in Record Year
According to data from Brazil’s Ministry of Economy, Brazilian beef exports (fresh/chilled and frozen beef) in November 2022 totaled 149 thousand MT with a value of USD 0.778 billion, the lowest level in 10 months in both volume and value. Exports in both value and volume terms continued to be considerably higher compared to those in the same month in 2021 (94% higher in terms of value and 82% in terms of volume), but this is because of abnormally low export levels in the last quarter of 2021 due to a halt of shipments to China, following the detection of mad-cow disease. China is Brazil's largest beef export market. (Continue Reading)
US: Beef Demand Is on the Rise as Domestic Beef Production Decreases
Domestic beef production in the US is on the decline as demand from international markets rises. The decline is due to a natural cyclical reduction in cow numbers after peaking in 2019 in combination with recent droughts and the rapid increase in feed costs. US production is estimated to decline by 3% in a continual pattern of a 2-5% annually into 2026. This decline will lead to a potential loss of 400K-500K MT of beef from the US production system during this period. Retailers, wholesalers, and other consumers are looking to the global market to fill this gap. Mexico and Canada, as US neighbours, and the largest beef suppliers to the US will be the first and logical production regions to turn to for this reason. Unfortunately, both countries have their challenges regarding their cattle volumes and won't be able to fill the gap. Australia and New Zealand as the second largest suppliers to the US market also have their challenges and predictions are that they won't be able to fill the gap in the US market either. This leaves South America, but due to the current lack of trade access, it won't be enough either. Projections show that even if the trade arrangements are put in place, the increase in production from South America will not be enough to offset the drop in US production.
US: October Beef Exports Already Reach USD 10 Billion
Demand for US beef in China/Hong Kong remained resilient in October, increasing significantly from a year ago despite China’s COVID-related travel restrictions and periodic lockdowns in several major metropolitan areas. China/Hong Kong was the leading destination for the US beef in October at 26,170MT, up 21% from a year ago, while value climbed 19% to USD 240.8 million. January-October exports to the region increased 23% to 243,198MT, while value was up 32% to USD 2.23 billion. China/Hong Kong is now the second highest value destination for US beef, trailing only South Korea. It is the third largest volume market behind Japan and Korea, but trails Korea by less than 1,000MT.
Brazil: Brazilian Fresh Beef Export
Export of fresh beef, until the fifth week of November/22, 148.84 thousand MT of fresh beef were exported, with revenues of USD 778.05 million. Average daily volume and revenue were 74.2% and 84.6% higher, respectively, compared to November/21.
Brazil: Beef Export Volume in the Months of 2022 Is Already an Annual Record
Brazilian exports of fresh beef decreased from October to November. Even so, Cepea researchers point out that the high volumes shipped in the previous months, especially in August and September, when foreign sales were above 200 thousand MT, have already guaranteed an annual record for 2022. According to data from Secex, in November, 148.8 thousand MT of beef were shipped, 23% less than in October. From January to November this year, Brazil has already exported 1.84 billion MT of beef, 28.5% more than the amount shipped in the same period of 2021 (1.43 billion) and also a record for a year. In the 12 months of 2021, the country shipped 1.561 billion MT. Until then, 2020 held the record volume of 1.725 billion MT.
Brazil: Beef Exports Slow Down in November but Still Exceed the 2021
Total beef exports from Brazil, considering fresh and processed products, reached 173.78 thousand MT in November, a slowdown compared to the previous four months, in which the country maintained shipments above 200 thousand MT per month, showed data from the association of slaughterhouses Abrafrigo on December 6. The volume, however, exceeds by 65.2% the total shipped in November last year, when the main buyer of Brazilian protein, China, had negotiations suspended due to atypical cases of mad cow disease in Brazil. According to Abrafrigo, only 242MT of beef from the South American country entered the Chinese market in November 2021. In the same month of this year, the volume was 95 thousand MT. Revenue obtained by Brazil from protein exports in November reached USD 872.7 million, also a slowdown compared to the USD 1 billion level that had been reached monthly in 2022, but above the USD 501 million registered a year earlier, informed the association based on data compiled by the federal government.
Brazil: Continuation to Dominate Beef Export Market
Beef exports from the Mercosur bloc continue to be dominated by Brazil. For 2023, USDA has forecasted this trend to continue. Brazil is anticipated to increase total exports by 1%. Other key South American nations, including Argentina, Paraguay and Uruguay are expected to report export declines of up to 3%. Recent trends show Brazil's beef exports to China are up 30% YTD compared to last year. China's demand is expected to soften in 2023, but Brazil is expected to gain market share due to slight declines in North American production. UK imports of beef, particularly from Brazil, have increased recently, the AHDB report noted. While there has been substantial increases seen since 2017, AHDB notes that this period has been particularly turbulent for beef from South America, due in part to both Brexit and the COVID-19 pandemic. In the long term, AHDB exports beef imports from Brazil to return to 2013/14 levels.
Brazil: Beef Production in Paraná
With less expressive participation in relation to other animal proteins, the State processed 245.1 thousand MT of beef between January and September, with the slaughter of 961,185 heads in the period. In Brazil, 22,205,468 head of cattle were slaughtered in the first three quarters, reaching a production of 5.9 million MT of meat. There were 75.7 thousand MT and 296,713 animals slaughtered between January and March in Paraná; 85.5 thousand MT from April to June (331,806 heads) and 84.9 thousand MT (332,666 heads) between July and September.
Brazil: Fall in the Quotation of the Arroba of Beef
After signalling a decline the day before (12/7), the price of the arroba for fat cattle, cows, and heifers fell by USD 0.57 (R$3.00). The buyer's strategy of offering more to close longer slaughter scales worked and, now comfortable, they returned to the prices practised previously.
Argentina: The Consumption of Beef Is the Lowest in the Last 100 Years
According to a study carried out by the Rosario Stock Exchange (BCR), the consumption of beef in Argentina over the past year reached 47.8 kg/person/year, which was the lowest figure since the year 1920. Since the beginning of this century, it has dropped from the 64.9 kg of the year 2000 and the worsening of the Argentine economy has made the reduction even stronger. In that year, beef accounted for 65% of the meat proteins consumed by Argentines and today it accounts for 44%. Faced with this, other meats such as chicken, with a lower price, have gone from assuming 27 to 41% and pork has gone from 8 to 15%.
Mexico: At the End of October, the Bovine Trade Balance of Mexico Maintained a Surplus of More Than 150,000MT
From January to October, Mexican beef exports amounted to 287,942MT for a value of USD 1,944.6 million, indicating YoY increases of 9.2% and 3.3%, respectively. The Consulting Group of Agricultural Markets (GCMA) reported that this was achieved despite an international price of USD 6,753/MT, a figure that indicated a contraction of 5.4% compared to the same period last year. During the set of months, the United States remained the most important market for the country, where 243,281MT were sent representing 84.5% of total shipments, this reported an increase of 8.8% compared to January-October of 2021. The second largest destination, Japan, reflected the largest increase of 36.1% to close the period at 26,499MT, and an estimated participation of 9.2% in Mexican exports. Finally Canada, with the third place, imported a total of 7,327MT, which is 2.2% higher than what was observed last year, hence covering 2.5% of the total exports made by Mexico.
Mexico: Chihuahua Will Seek Protection to Suspend the Import of Meat From Argentina
The Chihuahua Regional Livestock Union announced that at the state and federal level, it will request an amparo to suspend imports of Argentine beef, assuring that it represents a risk to the country's sanitary conditions. Through a statement, Álvaro Bustillos Fuentes, president of the organisation, indicated that with these actions they also seek to put a stop to the Opening Agreement Against Inflation and High Costs (Apecic), which exempts its 15 participating companies from official inspections. This type of measure had already been advanced by the PRI deputy, Ildefonso Guajardo Villarreal, who indicated that this is the right of Mexican ranchers, since they have not been involved in decision-making for the importation of animal protein.
Uruguay: Uruguayan Beef Prices During W48 in the Chinese Market as Uncertainty Continues
The Chinese market for beef continues to be uncertain in W48 regarding the COVID-19 measures as lockdowns continue in some places. Importers are unsure if the Chinese government will continue with existing sanitary measures. Bone-in quarters from Uruguay are priced at USD 3,600/ton CFR. On the other hand, there is interest in bovine bones, which are inactive. Sales of leg bones range between USD 1,400-1,500/ton CFR from Uruguay.
Turkey: The Price of Carcass Cutting for Red Meat Has Increased by USD 0.27, the Prices Are Expected to Increase by at Least USD 0.54
The bills for the wrong policies applied in animal husbandry began to appear gradually. While the breeders and producers have felt the crisis in animal husbandry, consumers will also begin to feel it from now on. According to the lean beef and lamb lean cut prices regarding the regions announced weekly by the National Red Meat Council, carcass cut prices increased by USD 0.27 (5 liras) on average this week. According to this, lean cut of beef is USD 5.79 (108 TL) in Aegean Region, USD 5.71 (106.5 TL) in Mediterranean Region, USD 5.76 (107.50 TL) in Marmara Region, USD 5.73 (106.80 TL) in Central Anatolia Region, USD 5.76 (107.50 TL) in Eastern Anatolia Region, USD 5.69 (106.2 TL) in Southeastern Anatolia Region and Black Sea Region. It was USD 5.90 (110 TL) in the region. While beef carcass slaughter prices have increased by 5.1% on average in the last month compared to November, the increase in slaughter prices is expected to continue in the coming days.
South Africa: South African Beef A2/3 and AB2/3 Prices up 0.23% And 4.08% Respectively in W48
South African Beef A2/3 prices increased 0.23% from USD 3.433/kg in W47 to USD 3.441/kg in W48. Beef AB2/3 went for USD 3.345/kg in W48, up 4.08% compared to W47 when it sold at USD 3.214/kg.
South Korea: The South Korean Beef Association, the Government and the National Assembly Should Prepare Special Measures to Stabilise the Price of Beef
The National Korean Beef Association ordered the National Assembly and the government to actively prepare countermeasures to stabilise the crashing Korean beef price. At the end of last month, the Korean Beef Association released a statement titled, “The government and the National Assembly must come up with special measures to stabilise the price of Korean beef,” and demanded that the government and the National Assembly come up with countermeasures.
South Korea: South Korean Beef Down 11.0% In One Year
It was found that the price of Hanwoo beef showed a downward trend since supply increased while demand decreased. According to the Korea Rural Economic Institute's 'Recent Reasons and Prospects for Hanwoo Price Decline' report on the 7th, the average wholesale price of Hanwoo beef in October was USD 138.37/kg (18,898 won), down 11.0% from a year ago. By grade, the price of grade 1++ dropped by 8.0% from a year ago, and the price of grade 1+ and grade 1 fell by 10.1% and 12.5%, respectively. The researcher analysed that while the supply increased as the number of breeding increased to an all-time high, the demand for Korean beef decreased due to the economic slowdown and the price fell.
South Korea: If South Korean Beef Is Used Instead of Imported Beef, the Difference Will Be Compensated
In order to stabilise the price of Hanwoo beef, Korean cattle farmers started to come up with self-rescue measures using self-help funds. The Korean Beef Fund Management Committee (chaired by Min Kyung-cheon) launched a project to promote low-grade Korean beef consumption to stabilise the price of Korean beef at the end of the year. To this end, through consultations with large catering companies, companies and institutions are promoting a project to support the difference between imported meat and beef when consuming grade 1 or 2 Korean beef instead of imported beef. This is because of the diagnosis that the stock burden of Korean beef stocks at major meat packaging companies has recently increased, which is becoming a factor in reducing carcass wholesale demand. The plan is to induce additional purchases of Korean beef by distributors by resolving backlogs such as low-fat meat.
Egypt: Meat Prices Rise by USD 0.41 (10 Pounds) Due to the Increase in the Dollar and the Difficulty of Importing
Haitham Abdel Basset, deputy head of the butchers division at the Cairo Chamber of Commerce, said that the price of red meat has increased since the beginning of this December by about USD 0.41/kg (10 pounds). Abdel Basset added, to Masrawy, that the price of a kilo of kandouz jumped to range between USD 8.11 and USD 9.33 (200 and 230 pounds), compared to USD 7.70 and USD 8.92 (190 and 220 pounds) last November, according to the continuity and in different popular and high-end areas. Abdel Basset pointed out that the prices of luxury items start at USD 9.33 (230 pounds), and they are fileto, entrecote, cola, buffet, and tribianco. Abdel Basset attributed the reason behind the rise in meat prices to the increase in the prices of fodder, especially maize, due to a lack of supply in the market due to the lack of quantities received due to the documentary credits decision, in addition to the high cost of importing them after the rise of the dollar.
Argentina: Santiago Del Estero Exported, for the First Time, Meat by Plane to Spain
In a historic event for the province of Santiago del Estero, for the first time a shipment of 640 kg of refrigerated meat departed from the Madre de Ciudades Airport bound for Europe, within the framework of the Hilton quota of the El Carancho establishment. For their part, Senasa agents from the Tucumán and Santiago del Estero offices, from the Food Safety and Quality area of the NOA Sur Regional Center, coordinated the operation to transfer the cargo from the airport of the capital of Santiago to the International air terminal of Ezeiza and from there continue to Madrid.