October 21, 2025

 

Korean beef and pork prices climb amid falling imports and slaughter rates 

 

 

The livestock products market in South Korea is stirring again.

 

Korean beef prices, which fell last year due to oversupply, have been recovering this year and are exceeding average levels by cut. Pork is also continuing to rise on the back of fewer slaughters and reduced imports.

 

According to distribution data from the Korea Institute for Animal Products Quality Evaluation on Oct. 19, the average retail price of grade-1 Korean beef sirloin was ₩10,187 (US$7.17) per 100 grams (g) as of October 18, up 3.9% from last year ( ₩9,806 or US$6.90). Grade-1 tenderloin was  ₩14,261 (US$10.04), up 10.7% from the previous year ( ₩12,886 or US$9.07). Both are 7.5% higher than the average year.

 

Brisket, which is widely used for stews, was  ₩6,126 (US$4.31) per 100 g, up 6.5% from last year ( ₩5,751 or US$4.05) ) and 3.4% from the average year. Although Korean beef remains in an oversupply phase, prices appear to have turned upward as shipments decreased from last year.

 

The Agricultural Outlook Center at the Korea Rural Economic Institute (KREI) projected this year's Korean beef slaughter at 929,000 head, down 6.1% from last year's record 990,000 head.

 

Pork prices show a similar trend. As of October 18, the average retail price of pork belly was  ₩2,872 (US$2.02) per 100 g, 6.9% higher than last year ( ₩2,687 or US$1.89) and 7.8% higher than the average year. Neck was  ₩2,686 (US$1.89), up 5.1% from a year earlier; ribs were  ₩1,627 (US$1.15), up 12.8%; and front leg was  ₩1,626 (US$1.14), up 13.4%.

 

This is analysed as the combined result of fewer slaughters, lower inventories of domestic products, and reduced imports due to higher international prices.

 

Consumers have also found it more burdensome than before to buy imported beef and pork, which are cheaper than domestic products.

 

According to the Korea Institute for Animal Products Quality Evaluation, US frozen ribs averaged  ₩4,498 (US$3.17) per 100 g at retail, up 2.8% from last year and as much as 22.4% from the average year.

 

US chilled short plate was  ₩4,878 (US$3.43) per 100 g, up 10% from last year and 21.5% higher than the average year. Australian frozen ribs were  ₩4,389 (US$3.09) per 100 g, 3.2% lower than last year but 19.7% higher than the average year. The unit import price of beef was US$8.1 per kg in January–August, up 1.6% from last year. For imported pork, the average retail price of pork belly was  ₩1,529 (US$1.08) per 100 g, 4% and 6.1% higher than last year and the average year, respectively.

 

Chicken and egg prices are relatively stable. The average retail price of broilers was  ₩5,685 (US$4.00) per kg, similar to last year ( ₩5,768 or US$4.06) and the average year ( ₩5,556 or US$3.91). A tray of eggs (30 extra-large) averaged  ₩6,968 (US$4.91) , little changed from last year ( ₩6,937 won or US$4.88).

 

Minister Song Mi-ryung of the Ministry of Agriculture, Food and Rural Affairs said on October14, "While the supply and demand of agricultural products are generally stable, the prices of livestock products, processed foods, and dining out are higher than a year ago," adding, "We will ease consumers' inflation burden through discount events and public delivery apps."

 

-        Chosunbiz