Korean weekly wholesale prices for imported beef this week were reportedly steady on last week, with the exception of US short rib prices which eased another 2% on last week at KRW12,800/kg. In contrast, Hanwoo carcase prices were up 3% on last week

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Korean weekly wholesale prices for imported beef this week were reportedly steady.

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Tesco Plc finally managed to open a near-3,000 sq meter super store in South Korea, its largest market outside Britain, after a seven-month delay by agreeing not to stock 15 items including radishes, mangoes and some cuts of local beef.

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Hanwoo and pork carcase wholesale prices this week reportedly declined to KRW 12,237/kg (down 1% on last week) and KRW 3,697/kg (down 3%), respectively.

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The government is planning to cull up to 100,000 female hogs in their child-bearing years to help stabilise pork prices, which have fallen by nearly one third in just seven months, said the agriculture minister.

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Around 6,040 hog farms in South Korea have been struggling with falling pork prices.

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SOUTH KOREA - USMEF-Korea is cooperating with local meat distributors in a cost-effective measure that repeatedly brings the message of quality US beef and pork directly to the more than 10 million people who live in Seoul: ads on delivery trucks.

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Korean beef imports during February totalled 18,023 tonnes swt – a decrease of 14% year-on-year but 4% above the five-year average for February (customs cleared basis, Korea International Trade Association).

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This week’s Korean wholesale prices for most imported beef items reportedly remained steady on last week, but were above the corresponding week last year.

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Relatively stable consumption of imported beef (at 38,385 tonnes, down 1% year-on-year, boneless equivalent), and lower import volumes (down 7%) during January resulted in an easing of in-market stocks in Japan (supply and demand data released by Agriculture and Livestock Industries Corporation).

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Despite the reportedly slow wholesale beef market in Korea this week, there remains an anticipation of higher prices, with Korean traders’ interest in chuck rolls heightened by increased competition from China for Australian product.

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Korean wholesale prices for imported beef reportedly remained steady this week, except for a slight decrease in US beef short rib prices, at KRW 13,800/kg.

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Korea imported 31,041 tonnes swt of beef during January, an increase of 40% year-on-year and just 12% below the record January total set in 2003 (35,140 tonnes swt) (custom cleared basis, Korea International Trade Association).

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Korea’s pork imports soared nearly 35 per cent in January from the previous month, dragging down prices and posing a threat to pig farms in the country, sources reported.

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South Korea is ramping up its efforts to prevent an outbreak of avian influenza (AI), a deadly disease that affects poultry and humans, the government said Thursday.

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Only four years ago, 100,000 South Koreans lined the streets of Seoul to protest the return of U.S. beef to Korea. Consumer confidence in American beef was at an all-time low.

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CJ Foods has launched its own brand of Korean barbecue products made with Certified Angus Beef.

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The Korean retail industry reported this week that pork sales from August to October this year increased 8.6% on the same time in 2011, while chicken sales increased only 1% during the same period (Kukmin Ilbo).

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The Korean beef industry has reported that all discounted Hanwoo (domestic) beef supplied to major Korean retailers for ‘Hanwoo Day’ on 1 November sold out (Chosun Biz).

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Korean slaughter of Hanwoo (domestic beef) females reached 63,481 head during September – the highest monthly level on record (Nonghyup).

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Preliminary data from Korea’s Finance Ministry showed that retail sales at Korean discount and department stores during October both contracted year-on-year - the fourth year-on-year decline during the last five months (Reuters).

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For the first nine months of 2012, Korean beef imports were back 16 per cent on the same period in 2011, with chilled and frozen imports decreasing 16 per cent and 14 per cent, respectively.

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South Korea and China exchanged views on the level of tariff reduction and other issues, including non-tariff trade barriers, during their latest round of free trade talks, Seoul's trade ministry said Thursday.

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The Korean Ministry for Food, Agriculture, Forestry and Fisheries (MIFAFF) announced this week that it will attempt to stabilise the domestic cattle and pig markets in response to the ongoing price falls and rising livestock numbers (I-News).

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Korean and US researchers investigated the effect of several coccidiosis programs, used in combination with antibiotic growth promoters (AGPs), on broiler growth performance and immune response.

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The Korea Rural Economic Institute (KREI) reported that there is a possibility that Korea will face ‘agflation’ in coming months, where rising prices for agricultural products causes inflation, largely due to high grain prices from overseas suppliers.

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Following Korea’s Foot-and-Mouth Disease (FMD) outbreaks and subsequent culling in 2010, the national pig herd has grown quickly, rising from 7.3 million head in June 2011, to 9.4 million in 2012, reports Meat and Livestock Australia (MLA)

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Broiler meat production in South Korea is expected to reach 740,000 tonnes in 2013, up 2% from 2012 due to large carryover supplies and high international grain prices.

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Following Korea’s Foot-and-Mouth Disease (FMD) outbreaks and subsequent culling in 2010, the national pig herd has grown quickly, rising from 7.3 million head in June 2011, to 9.4 million in 2012 (Nonhyup).

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Koreans were back at work this week following the Chuseok holiday, with most meat businesses expected to examine their beef inventories against prices and expected demand this week in order to determine their beef buying for the next few months.

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Global ratings agency Standard & Poor’s reported this week that it had lowered Korea’s economic growth outlook by 0.5%, to 2.5% for 2012, while other organisations are expecting growth between 2% and 3% (Yonhap). The downward revision was based on the economic slowdown in China, combined with a delayed recovery in the US and the ongoing European fiscal crisis.

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SOUTH Korea was battered by Typhoon Bolaven last week - the strongest typhoon to touch down in the country in almost a decade - prompting businesses to close, people to stay indoors and impacting wholesale market trading activity, foodservice and retail sales.

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From January to July this year, Korean CJ Foodville’s VIPS, E-Land’s Ashley and Samyang’s Seven Springs registered sales growth of 12.8%, 25% and 20%, respectively, on the same time last year, despite Korea’s sluggish economic conditions (Yonhap News).

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During July Korea imported 21,442 tonnes swt of beef – up 13 per cent on the previous month but 19 per cent below the corresponding period in 2011.

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Most of the Australian beef exporters and Korean beef importers and wholesalers reported this week that conditions in the Korean beef market had improved in the last few weeks – albeit from a very sluggish level in previous months.

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Korea is currently Australia’s third largest beef export market (by volume) but that trade started from humble beginnings.

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For the first six months of 2012, Korean cattle slaughter totalled 452,207 head, a jump of 22 per cent year-on-year, with females making up more than 77 per cent (62,393 head) of the increase (Nonghyup).

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South Korea is experiencing a heat wave that has claimed 830,000 chickens; 40,000 ducks; and 3,000 quails.

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According to market reports, the majority of Korean retailers have secured adequate imported beef stocks to prepare for promotions ahead of Chuseok (Harvest Festival) demand on 30 September.

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During July Korea imported 21,442 tonnes swt of beef – up 13% on the previous month but 19% below the corresponding period in 2011 (KITA).

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South Korea's imported pork prices increased by 10.6% despite the general negative growth of imported farm goods for four straight months in June, customs data showed.

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South Korea's imported pork prices increased by 10.6% despite the general negative growth of imported farm goods for four straight months in June, customs data showed.

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In the first six months of 2012 shorts ribs made up around 47% of total Korean beef imports through quarantine, at over 55,000 tonnes swt (NVRQS).

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The demand for various Australian beef cuts in the Korean wholesale market slightly increased this week as a result of low stock levels, particularly for blade and some chuck roll.

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For the second time in two years, South Korea’s top cooking magazine, Cookand, joined with the US Meat Export Federation (USMEF) for a blind taste test conducted with panels of food industry experts and consumers to determine which pork would be preferred by Koreans when taste is the only consideration.

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Korea’s Lotte department store announced on 12 July it would hold a “Lamb Festival’ and sell chilled Australian lamb from 13-19 July in anticipation of Chobok.

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Some Australian exporters reported that Korean demand for Australian beef has remained steady on previous weeks without rising interest for product ahead of Chuseok (Harvest Festival) that is celebrated in late September.

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Marketing and research body Meat and Livestock Australia has had to revise down its expectations for Australia's two largest beef markets.

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For the second time in two years, South Korea’s top cooking magazine, Cookand, joined with the US Meat Export Federation (USMEF) for a blind taste test conducted with panels of food industry experts and consumers to determine which pork would be preferred by Koreans when taste is the only consideration.

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Beef prices continue to be under pressure from rising production and slow consumer demand.

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The U.S. Meat Export Federation (USMEF) has partnered with a celebrity chef to promote U.S. chilled pork and encourage year-round consumption.

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South Korea halts special checks on US beefSouth Korea has ended special inspections of all US beef imports over the weekend, nearly two months after Washington confirmed its fourth BSE outbreak, the country’s Yonhap news agency reported this week.

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Various Korean traders and Australian beef exporters reported that meat trading within the Korean wholesale market remains slow, with average prices for the majority of imported beef cuts unchanged.

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US pork ads put in up in Seoul subway stations are the start of an ad campaign designed to change the minds of Koreans regarding chilled pork.

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Cargill Agri Purina have started construction on a new, US$91 million project to build a livestock feed mill at Pyungtaek Dangjin Habour foreign investment zone in Korea.

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US pork ads put in up in Seoul subway stations are the start of an ad campaign designed to change the minds of Koreans regarding chilled pork.

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The Korean wholesale market continued to be impacted by slow trading conditions this week.

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To capitalize on the growing craze, USMEF is partnering with celebrity chef Shin Hyo Seob, a judge on the popular Chef King television program, to promote US chilled pork and encourage year-round consumption.

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The popularity of celebrity chefs and TV cooking programs isn’t unique to the United States.

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The 22nd International Pig Veterinary Society Congress in Jeju, South Korea this year was teh site for two symposia hosted by Bayer Animal Health: its 4th International Bayer Pig symposium and a satellite symposium.

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