South Korea: Livestock and Products Annual
Korea will continue to expand its cattle inventories and consume more domestic and imported beef during the remainder of 2019 and into 2020. Strong demand, growth in beef processing, and cattle industry profitability are driving these trends. Swine and pork producers face volatility from currency issues, high inventories (both swine and in freezers), fluctuating international prices, and the threat from African Swine Fever. Despite profitability concerns in the swine industry, we forecast continued expansion and greater domestic supply through 2020 and expect imports to level off at a slightly lower volume.
