South Korean analysts forecast November wholesale hog prices at 5,300–5,600 won/kg or 5,600–5,800 won/kg, depending on the forecaster. October slaughter rose 8.7% from September and pork imports were 24% higher year on year; analysts expect November slaughter to be 11.6% above the previous year, despite pork stocks falling 6.1% from August.
Higher slaughter and import volumes add pork supply and are expected to keep hog prices under pressure, although the seasonal kimchi-making period and lower inventories may provide some support. The outlook is bearish for South Korean hog prices.
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