Today's Date:   Tuesday February 12, 2013

1. LIVESTOCK ISSUES

Retailers are pocking the bulk of profit in selling beef [Korean: BYK]

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=102&oid=034&aid=0002466037

Summary: Most people think that the reason for high beef prices is due to the profit margin of the middlemen.  However, in reality, the bulk of the profit is ending up in the hands of the retailers.  Live cattle is auctioned off at about 5 million won and is resold to the processors at about 6 million won.  The processors fabricate the carcasses and add on about 5 percent of margin.  However, when this goes into the hands of the retailers and major discount stores, the price jumps to 10 million won.  This is why some fop the producers are seeking a direct sales channel from the producer to the consumers without going through the retailers. 

2. OTHER MISCELLANEOUS ISSUES

Korean Oyster Exports to the United States to be Resumed [Korean: BYK]

http://www.foodnews.co.kr/news/articleView.html?idxno=43651

Summary: MIFAFF announced that FDA had decided to allow the resumption of Korean shell fish exports to the United States as of February 8, 2013.