Frozen boneless beef inventory decline sets recordFrozen boneless beef inventory decline sets record
Cold storage report shows red meat inventory down and poultry inventory up.
April 26, 2017
The U.S. Department of Agriculture recently released the April “Cold Storage” report, which showed that total red meat supplies in freezers were down 5% from the previous month and down 7% from last year.
The decline in beef inventories was the biggest news of the report. Total beef in freezers declined 38 million lb., down 8% from the previous month and down 4% from last year.
In the “Daily Livestock Report,” Steiner Consulting Group (SCG) said frozen beef inventories in March 2003 registered a similar decline, but no other March going back to the 1970s has shown a decline as big as this year.
Frozen boneless beef inventories fell 40 million lb., setting a record for a decline during March. The previous record was set in March 2003, with a decline of 35 million lb. during the month.
Frozen pork supplies were down 3% from the previous month and down 10% from last year. Stocks of pork bellies were up 27% from last month but were down a significant 68% from last year.
Total frozen poultry supplies on March 31, 2017, were up 2% from the previous month and up 2% from a year ago. Total stocks of chicken were down 3% from the previous month and down 3% from last year. Total pounds of turkey in freezers were up 13% from last month and up 16% from March 31, 2016.
Total natural cheese stocks in refrigerated warehouses on March 31, 2017, were up 3% from the previous month and up 8% from March 31, 2016. Butter stocks were up 1% from last month and up 12% from a year ago.
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