Total pork, beef, chicken and turkey in cold storage at the end of September was 2.506 billion pounds, a 4.3% decline from the same time last year, the latest U.S. Department of Agriculture “Cold Storage” report showed.
Total red meat supplies in freezers were 2% lower than the previous month and 4% lower than last year, at 1.110 billion pounds. Total pounds of beef in freezers, at 464.186 million pounds, were down 1% from the previous month and down 8% from last year. Frozen pork supplies, at 598.899 million pounds, were 1% lower than the previous month but up 2% from last year. Stocks of pork bellies were down 11% from last month but up 34% from last year.
According to USDA, total frozen poultry supplies on September 30, 2019, at 1.447 billion pounds, were 1% below the previous month and 5% below year-ago level. Total stocks of chicken, at 914.971 million pounds, were up 2% from the previous month but down 4% from last year. Total pounds of turkey in freezers, at 528.258 million pounds, were down 6% from last month and down 6% from September 30, 2018.
Steiner Consulting Group, in its “Daily Livestock Report,” said the latest report may be construed as supportive for beef and pork prices in the final quarter of the year.
“Despite a big increase in meat protein production, cold storage supplies remain near or below year ago levels, depending on the product.”
Total natural cheese stocks in refrigerated warehouses on September 30, 2019 were up slightly from the previous month but down 1% from September 30, 2018. Butter stocks were down 1% from last month but up 7% from a year ago.