|A Research on Mid-to-long-term Supply and Demand Model of Korean Beef Using Cattle Slaughter Rates|
This study aims to refine the forecast model for Korean cattle supply and demand amid concerns about price drops due to a steady increase in Korean cattle breeding. Also, our research aims to contribute significantly to refining the identification and analysis of the breeding and slaughtering status in the Korean cattle industry.
This study established a ‘mid-to-long-term forecast model for Korean beef supply and demand, far different from the previous ones by using slaughter rates instead of the number of cattle heads. In addition, the model successfully reflects concerns about farmers’ risks and structural changes in the current Korean beef breeding structure. As a result, the model we devised through our research will make it easier to forecast farmers’ mid-to-long-term breeding intentions and the supply-demand status in the Korean beef industry.