China’s pork output jumps 7% as herd glut grows

China’s pork production rose 7% in the third quarter from a year earlier, government data showed on Monday, as hog producers accelerated slaughtering to address industry overcapacity. Output during June-September in the world’s top pork producing nation surged to 13.48 million metric tons, the data from the National Bureau of Statistics showed. “The increase in pork production was mainly due to hog producers accelerating slaughter to curb overcapacity,” said Pan Chenjun, senior animal protein analyst at Rabobank in Hong Kong. “This has also contributed to recent declines in hog prices.” Farmers slaughtered 529.92 million hogs during the first nine months of the year, up 1.8% from a year earlier. Cash hog prices stood at 11.2 yuan ($1.57) per kg on Monday, falling from above 17 yuan per kg during the same period last year, according to consultancy MySteel data. Home to half the world’s pigs, China’s massive hog sector struggles with a supply glut amid weak consumer demand. ...