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Unchanged Conditions in Korean Wholesale Market

04 June 2010
Meat & Livestock Australia

SOUTH KOREA - Similar to last week, Australian beef exporters reported on steady to slower demand from Korean traders this week, according to Meat and Livestock Australia.

The high volatility of the Korean won against the US$ was mentioned as a possible cause for the ease in demand, MLA said.

Prices for Australian short ribs in the Korean wholesale market remained steady this week – after gradual increases since late April.

However, US short rib prices increased for the ninth consecutive week due to subdued supply. Prices for most other imported cuts remained unchanged.

Australian exports to Korea during May totalled 10,831 tonnes swt – a 36 per cnet increase on the same month last year and an 18% rise year-to-date compared with the same period in 2009.

Chilled beef exports to Korea reported record volumes with 13,085 tonnes swt – up 27 per cent on last year (DAFF).

TheCattleSite News Desk



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