Close but not exactly. In farming contexts, piglets and chicks are often distinguished from pigs and chickens precisely because they’re too young to eat. So “young pig” really does mean something different from “piglet” in this case, in the way that in many contexts “young man” clearly means something older than “boy” does.
Regardless of your opinion on eating meat, I don’t think this is a failure of euphemism so much as an accidental dysphemism.
You mean, it would be like calling something what it is, rather than using a euphemism to shield yourself from what you're doing?