South Korea: Livestock and Products Annual
Despite high domestic cattle and beef prices, Post forecasts Korea’s cattle calf crop to see its 3rd consecutive decline. Recent concern over high-end beef demand due to an anti-graft law have discouraged cattle producers from continuing the previous expansion trend. Slaughter and beef production are also seen down with imports up to fill the gap. On the other hand, Korea’s swine heard will continue to grow as farmers take advantage of firm prices, at least in the medium term, and consumers take advantage of the relatively cheaper protein. Given this demand compared to domestic capacity, slightly higher imports are still expected.
