FMD Not Stopping Korean Beef Demand
SOUTH KOREA - One week before the foot-and-mouth disease (FMD) outbreak in Ganghwa, Korean prices for cattle and pig carcases dropped slightly, but picked up since then, despite the infectious disease.
16 April 2010
1 minute read
The Korean media has reported that it is unlikely that the FMD in Korea will significantly impact consumer beef demand in retail or foodservice, reports Meat and Livestock Australia (MLA).
The retail industry is closely watching the developments of the outbreak as experts have predicted the disease will likely spread further. Major large discount stores are closely tracking the livestock availability of their distributors and have indicated that they may even start securing stock.
In addition to strong domestic prices, the overall value of imported beef remains firm, while short rib prices increased from all overseas suppliers.
Due to recent low stocks, traders are worried there will not be sufficient rib supply to satisfy demand.
TheCattleSite News Desk
