The U.S. Department of Agriculture's latest “Cold Storage” report showed that total beef, pork, chicken and turkey supplies in freezers were 2.43 billion lb., down from 3.49 billion lb. last year.
Total red meat supplies in freezers were down 1% from the previous month and down 2% from last year. Total frozen poultry supplies on Oct. 31, 2017 were also lower, down 4% from the previous month; however, they were 12% higher than the same period last year.
Total pounds of beef in freezers were 2% higher than the previous month but 5% lower than last year. Frozen pork supplies were down 3% from the previous month and down slightly from last year. Stocks of pork bellies were up 54% from last month and up 58% from last year.
On the poultry side, USDA reported that total stocks of chicken were up 6% from the previous month and up 12% from last year. As expected for this time of year, total pounds of turkey in freezers were down 20% from last month, but stocks remain higher than last year, up 14% from Oct. 31, 2016.
Total natural cheese stocks in refrigerated warehouses on Oct. 31, 2017 were down 3% from the previous month but were up 4% from Oct. 31, 2016. Butter stocks were 14% lower than last month and 4% lower than a year ago.