FX.co ★ China Pushes Pork Producers to Cut Output Amid Supply Glut

China has called upon its leading hog producers to take the initiative in reducing production, as the nation deals with surplus supply and subdued demand within its extensive pork industry, according to a report by the state-operated Shanghai Securities News on Thursday. During a high-profile meeting held this week, officials urged key companies to decrease the number of breeding sows, cut down slaughter volumes, and keep hog weights around 120 kg. This meeting, directed by the National Development and Reform Commission and the agriculture ministry’s animal husbandry bureau, highlighted Beijing's intensified efforts to address overcapacity and stabilize prices. Additionally, authorities intend to tighten credit for production expansion and reduce subsidies that encourage pig output growth. Pork, constituting over two-thirds of China's meat consumption, is integral to daily meals, festivals, and traditions. Its price fluctuations are closely monitored as an indicator of food inflation and overall economic sentiment.