Total Korean beef cattle inventory continues to gradually drop and as a result of the drop in slaughter numbers, total 2014 beef production is projected to decrease by 7.3 percent over the 2013 level. U.S. beef imports are projected to rebound in 2014 as Korea increases its imports to make up for the drop in domestic beef production. Efforts by Korean swine producers to reduce sow numbers in 2013 bore some results in keeping the total inventory from rising further and will definitely bring down the inventory in 2014. As the effect from lower sow numbers impacts the piglet production in 2014 and with higher losses of piglets due to PED, total slaughter numbers will drop and will result in decreased pork production in 2014. Some of the shortage in domestic production will be filled with increased pork imports.
