does 'cutting' here just refer to the slicing of meat? or can it also mean a reduction in consumption?
Cutting like slicing with a knife, not reducing (e.g. the consumption).
Is it possible to leave out the article "the" in examples like this?
Yes, of course.
Creamy (kroimy) red meat!
Doe this mean red meat like beef and pork like it does in English (as opposed to white meat like chicken)
Yes, as far as I understand "czerwone mięso" includes veal (cielęcina), beef (wołowina), pork (wieprzowina) and mutton (baranina).
Why don't I put "We cut the red meat" ?
You can, it's an accepted anwer.
Before typed the answer i checked options, and i did not see "cut" in options, so i typed answer as "we are slicing the red meat" but it did not accepted. In my opinion iti s better to add "cut" in options for this exercise.
"we are slicing the red meat" is a correct answer, it should have worked. Same with "we cut the red meat".