Beef farmers full of worry over future

Posted on : 2007-05-31 15:11 KST Modified on : 2019-10-19 20:29 KST

Kim Cheol-su, 52, of Buyeo, South Chungcheong Province, sits in a corner of the Gwangcheon livestock market, trying to ease his worries after failing to sell any of the thirty calves he had brought.

"You've gotta have reason to hope. These days I just want to give up on the cows and the rest of it all."

Kim Chang-ho, 55, has raised cows for more than 30 years in Haengsan-ri, Hongseong, South Chungcheong Province, but lately he has a despondent look on his face.

"I raised these precious cows and sent my kids to college and fixed my home. Nowadays cattle prices are falling while feed prices keep going up."

The Hankyoreh followed Kim to a livestock market held every five days in Gwangcheon, South Chungcheong Province. On May 29 at 1:30 in the morning he went to his stable, selected the cows he was going to sell, and took them to market in his truck. It took four hours after he had arrived for the market to open. Farmers talked about the FTA with the United States, the falling price of cows, and politics. Kim got tired and went back to his truck to get some sleep.

The price of Korean beef cattle continues to fall, even though the FTA has not yet been ratified. On May 29 at the Gwangcheon livestock market, a 500-kilogram cow sold for 4.017 million won (US$4,319). In April their going rate was 4,146,100 won and in March they sold at 4,556,500 won.

The price of calves continues to fall, as well, to the point where they are barely being traded at all.

"Livestock ranchers put cows up for sale, but they hesitate to buy calves when the cost of feed keeps going up and because beef prices are in a free fall thanks to anticipated importation of U.S. meat," said an official with the livestock cooperative in Hongseong. "You have to raise a calf for at least 16 months before it’s worth selling."