The total cost of raising a beef cow was 6,509,000 won as of 2013.(image: Kobizmedia/Korea Bizwire)
SEOUL, May 31 (Korea Bizwire) – Data revealed that a cattle farmer takes an average of 573,000-won loss for every bull he raises.
According to a report “2013 Livestock Production Cost Survey” published by the National Statistical Office on May 30, the total cost of raising a beef cow was 6,509,000 won as of 2013. In contrast, the average price of a bull is 5,936,000 won. That means the farmer incurs a loss of 573,000 won every time he sells a male cow he breeds.
Still, the amount of loss is smaller than the one in previous years. In 2012, the per-head loss was 916,000 won, with production cost of 6,913,000 won and average selling price of 5,997,000 won. The National Statistical Office explained that the production cost declined slightly because of lower calf prices in 2013.
Korea’s Meat Products Industry
As for the production cost of milk, it rose slightly from the previous year. The per-litter milk production cost in 2013 was 807 won, up 23 percent from 784 won in 2012 largely due to a rise in the feed prices and depreciation cost.
The average profit coming from raising a milk cow was estimated at 1,768,000 won. That’s because the cost of raising a milk cow is higher than that for a beef cow at 7,139,000 won but the expected revenue is higher at 8,907,000 won.
The production cost of 100-kilogram pork was 290,000 won, down 1.4 percent from the previous year’s 286,000 won. Hog farmers are taking a loss of 28,000 won for every hog they raise. The average production cost of 10 eggs was 1,183 won, 3.9 percent lower than 1,139 won in 2012 while the per-kilogram production cost of chicken meat was up 2.9 percent to 1,400 won.
Written by Sean Chung (schung10@koreabizwire.com)
Business (Follow us @Biznews_Korea)
