August 20, 2014

Chile's beef price falls amid abundant supplies

Chile's Ministry of Agriculture said that the country's beef industry is affected by abundant supplies and lower prices this year.

The country's cow and heifer slaughter are 16.1% and 23.5% higher, while calf production rose by 1/3. This is compounded by falling exports, which are down 10%, dragging prices down more than 12%.

Germany and South Korea are the main markets for Chilean beef.