May 31, 2012
South Korean livestock production costs rises due to higher feed prices
South Korea's livestock production costs have increased in 2011 due to rising feed prices, according to a government survey.
Pork production costs rose 22% to KRW302,000 (US$256) per 100 kilogrammes and that for beef climbed 9.9% to KRW5.69 million (US$4,817) per 600 kilogrammes, Statistics Korea said today in an e-mailed report that cited a survey of 1,400 livestock farms.
The average feed cost for pig farms rose about 14% last year, while that for cattle farms increased about 17%, the survey showed. Feed costs accounted for half the production cost for pork, it showed.
Soybean futures on the Chicago Board of Trade have gained 15% this year.
