China's Pork Production Declines Amid Market Adjustments

China's pork production fell in 2024 after three consecutive years of growth. This decline is attributed to reduced slaughter rates as a result of excess supply and weak demand. While production is down, some companies aim to increase slaughter rates in 2025 amid expectations of continued oversupply.

China's pork production witnessed a decline in 2024, marking the first drop after a three-year growth streak, according to official data released on Friday. With an ample supply of hogs and weak meat demand, livestock companies reduced slaughter rates. China, the world's largest pork producer, generated 57.06 million metric tons of pork in 2024, a 1.5% drop from 2023's figure of 57.94 million metric tons.

In 2024, farmers slaughtered 702.56 million hogs, representing a 3.3% decrease from the previous year, according to the data. Despite being the world's top consumer of pork, the nation experienced reduced consumption amid a typical high-demand season for pork meat, particularly in the winter during the fourth quarter.

Many of China's major hog companies anticipate raising slaughter rates in 2025, following a year of slowing production. For instance, Wen's Foodstuff Group plans a 12.65% increase in slaughter this year. Meanwhile, cash hog prices are anticipated to face downward pressure post-Lunar New Year, as the market enters an off-season, affecting procurement costs and wholesale pork prices.

(With inputs from agencies.)