US, Korean beef slaughter poses silver-lined cloud for AACo

Beef giant AACo has warned mass slaughters of US and South Korean cattle could result in a short-term glut of meat in some markets, but long-term rewards.

AACo, whose major shareholders are British billionaire Joe Lewis and iron ore magnate Andrew Forrest, revealed wagyu beef revenue had risen to $241 million in the past 12 months from $203.8 million.