Source: Lisa M. Keefe, MEATINGPLACE, 5/23/17



Judging by the fairly stable level of red meat inventories reported in the USDA’s latest Cold Storage Report, demand remains robust for beef and pork. Poultry supplies on the other hand, were more of a mixed bag, said a Daily Livestock Report analysis by Steiner Consulting Group.

Total red meat supplies in freezers as of April 30 were up 4 percent from the previous month but down 4 percent from last year, according to the report. Total pounds of beef in freezers were down 1 percent from the previous month and down 2 percent from last year.

Frozen pork supplies were up 9 percent from the previous month but down 6 percent from last year. Continuing the roller coaster ride they’ve been on all year, stocks of pork bellies were up 66 percent from last month but down 53 percent from last year.

Output of red meat during April increased significantly and yet supplies in cold storage at the end of the month had largely increased in line with the normal seasonal trends, rather than showing a significant buildup as would be expected.

Total frozen poultry supplies on April 30 were up 7 percent from the previous month and up 5 percent from a year ago, the report said. Total stocks of chicken were up 4 percent from the previous month but down 1 percent from last year. Total pounds of turkey in freezers were up 11 percent from last month and up 20 percent from April 30, 2016.

Breast meat supplies remain burdensome, up some 36.8 percent compared to the five-year average, according to the analysts. Breast meat stocks increased 5 percent from the previous month while in the last five years breast meat inventories on average declined 1 percent in April.

Demand for wings remains stellar, causing wing inventories to drop 4 percent in April while in the last five years stocks on average increased 7 percent for the month.

Turkey breast supplies are heavy, which is reflected in the low price in product markets. Turkey breast stocks in cold storage were 106.7 million pounds, 52.3 percent higher than last year and 66 percent higher than the five-year average.

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