Expecting a rise in South Korean beef prices, be wary of hasty expansion of stocking

[Reporter Lee Dong-il, Livestock News] Consumption of Korean beef is expected to increase. However, it is difficult to like it just like that. It is pointed out that there is concern about the increase in demand for stocking at breeding sites due to this. According to the latest observation information from the Korea Rural Economic Institute, it has been confirmed that supply and demand conditions are improving faster than initially expected. This is believed to be the result of the steady implementation of measures to stabilize supply and demand, such as an expansion in the reduction of heifers and a reduction in calf production in parallel with the expansion of Korean beef consumption. The preemptive cow reduction project has been implemented since 2020, and 76,000 head were culled by July of this year. The proportion of cow slaughter increased from 45.2% in 2021 to an average of 51.9% by July 2023. Accordingly, the number of calves under one year old decreased from 1,008,000 ...