China’s sow herd was 37.8 million at the end of June, down 6.5% year on year. This is essentially at the government’s target of 37.5 million.
This is a much faster pace of destocking. From the end of 2025 to Q1, the sow herd shrank by 1.4%, but from the end of Q1 to the end of Q2, the sow herd shrank by 3.2%....