Female Cattle Slaughter Highest Ever05 November 2012
SOUTH KOREA - Slaughter of cows and heifers reached 63,481 head during September – the highest monthly level on Nonghyup's records, according to Meat and Livestock Australia.
The Korean government has incentivised female cattle slaughter for several months, with an aim to drive down cattle numbers and lift local beef prices.
The previous record female Hanwoo slaughter was in 1997, when the government battled similar market conditions. In the first nine months of that year, Korea’s cattle slaughter reached 850,583 head, slowing growth in Korea’s herd, which stood around 3.4 million head.
From January to September 2012, the Korean cattle slaughter totalled 733,421 head, with the current herd around 3.5 million head. In the last six months, the cattle herd even expanded slightly, up an additional 216,000 head, indicating that slaughter will have to rise further before it will start to halt, and indeed reverse, the herd growth.
On 1 November this year, Korea celebrates its annual ‘Hanwoo Day’ with all retailers heavily discounting local beef products. The current average price for local chuck roll at retail is KRW5,850 (A$5.17) per 100 gram – reportedly the lowest price in five years, but still much higher than its Australian equivalent according to the Daily News from Korea.