USDA monthly cold storage data released Friday afternoon showed combined meat and poultry stocks held in the nation’s freezer warehouses at the end of May at 2.3% below the previous month and 5.5% under a year ago.
The combined stocks were up 3.1% from the five-year average of 2.290 billion pounds.
Beef Cold Storage Recap:
Beef stocks were reported at 403.6 million pounds, down 6.2%, from April. Beef stocks were 13.1% below the year-ago figure of nearly 465 million pounds. The five-year average change in beef stocks in May is a decrease of 18.8 million pounds.
Beef stocks were 7.9% below the five-year average of 438 million.
Pork Cold Storage Recap:
End-May pork stocks were reported at 628.7 million pounds, an increase of 1.2% from the previous month. The report showed pork holdings 0.8% above the year-ago figure. The month-on-month increase in pork stocks was 7.2 million pounds.
The amount in storage was 2.7% above the five-year average of 612 million pounds.
The pork figure was viewed as neutral to slightly bearish for hog futures but the increase was also considered to be building stocks for export to China.
Pork Cuts Cold Storage Recap:
Ham stocks at the end of May were reported at 150.1 million pounds, up 24% from the previous month and 8% over a year ago. The latest figure was 7.8% over the five-year average of 139.2 million pounds.
Bellies in cold storage were reported at 64.1 million pounds, up 3.0 million pounds, or 4.9%, from the previous month and 4.7% over a year ago.
Poultry Cold Storage Recap:
Chicken stocks were reported at 834.3 million pounds down 5.3% from the previous month and 4.7% below a year ago. The figure was 9.2% above the five-year average of nearly 764 million pounds.
Turkey stocks were up 4.9% from end-April and 7.7% below a year ago. The end-May figure was 494.8 million pounds, about 3.7% above the five-year average of 477 million pounds.