Q3 Korea Hanwoo Beef Down 5.6%... "Impact of Continued Price Decline"

Announcement of Livestock Trend Survey Results by Statistics Korea

In the third quarter of this year, the number of laying hens and ducks increased, while the number of Korean beef cattle (Hanwoo), dairy cows, pigs, and broiler chickens decreased. The number of Hanwoo cattle has been declining since the fourth quarter of last year due to falling prices, with the rate of decrease also accelerating.

On the 18th, Statistics Korea announced the results of the "2024 Third Quarter Livestock Trend Survey." The Livestock Trend Survey collects data quarterly on the number of households (farms) and heads of livestock, including Hanwoo, dairy cows, pigs, chickens, and ducks, based on the first day of each quarter.

[Image source=Yonhap News]

The number of Hanwoo cattle in the third quarter was 3,541,000 heads, down 211,000 heads (5.6%) compared to the same period last year. The increase in heads aged two years or older was due to the waiting period for shipment of beef cattle (males), while the number of heads under one year and between one and two years decreased due to increased slaughter of cows.

The number of Hanwoo cattle has been continuously decreasing since the fourth quarter of last year. In the fourth quarter of last year, the number decreased by 78,000 heads (2.1%), followed by decreases of 105,000 heads (2.9%) in the first quarter and 186,000 heads (5.0%) in the second quarter of this year, with the decline continuing into the third quarter.

An official from Statistics Korea explained, "As prices continue to fall, the number of cows is being reduced and breeding intentions are declining, leading to a continuous decrease in the number of heads under one year and between one and two years."

For dairy cows, the number recorded was 379,000 heads, down 7,000 heads (1.8%). While the number of heads aged two years or older increased due to movement within the rearing stages (between one and two years), the number of calves under one year decreased due to reduced calf production.

The pig population was 11,182,000 heads, a decrease of 216,000 heads (1.9%). Although the number of pigs under two months increased due to production growth, the number of pigs aged four to six months decreased due to early shipment from some farms ahead of the Chuseok holiday.

The number of laying hens rose by 4,418,000 heads (5.8%) to 80,545,000 heads. With the rise in egg prices, the volume of chick stocking (from January to June) increased, leading to increases in the number of hens aged three to six months and those over six months.

The number of broiler chickens decreased by 4.6% to 4,117,000 heads, totaling 85,737,000 heads. Although the number of three-yellow chickens increased due to sustained high temperatures in summer, the number of broiler chickens stocked decreased due to falling broiler prices and increased slaughtering caused by reduced productivity in breeding stock.

The number of ducks increased by 435,000 heads (4.9%) to 9,241,000 heads. The sustained high temperatures in summer boosted consumption, leading to an increase in the number of meat ducks stocked.

This content was produced with the assistance of AI translation services.