Source:  Rita Jane Gabbett, MEATINGPLACE.COM, 9/23/09

USDA's Cold Storage report on Tuesday reflected declines in chicken and beef stocks during August and surprised analysts with a lesser build-up in pork stocks than expected.

USDA reported 517.9 million pounds of pork in cold storage, up just 3 percent from a year ago. Analysts were expecting pork stocks "in the high 530s" according to the CME Group's Daily Livestock Report.

The DLR also noted an impressive 22 million-pound (4 percent) draw down of pork stocks during August, which could reflect (though not confirmed) some improvement in pork exports.

Wall Street even liked the report.

"By our read the amount of meat in cold storage was reasonably low across the board, which portends well for prices," J.P.Morgan analyst Ken Goldman wrote in a note to investors. "We believe this is positive for all meat processors."

USDA reported beef stocks in cold storage on Aug. 31 at 426.4 million pounds, down 3.3 percent from a year ago and down 4 percent from July 31. Chicken stocks totaled 642.3 million pounds, down 15 percent from a year ago and down 6 percent from a month ago.

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