China plans measures to curb dairy and beef production as meat prices decline

China plans to implement measures to help dairy and beef producers limit production to prevent prices from falling further, Reuters reported, citing an agriculture official on Wednesday, adding to existing rules on pork producers as meat consumption declines. The prices of pork, beef, dairy and poultry are falling in the world's largest meat consumer as shoppers, grappling with a slowing economy, scale back on purchases. This downturn in demand follows an increase in production by the livestock industry, especially pig farmers. "The prices of beef and raw milk in the first half of the year fell by 12.1% and 12.5%, respectively, and beef cattle and dairy cow breeders are making losses," Wang Lejun, the agriculture ministry's Chief Animal Husbandry Officer told reporters on Wednesday. "For beef and dairy cows, we want to guide farms to optimize and adjust the herd structure, moderately eliminate old and low-yielding cows, and better match production development with market demand" ...