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Plenty of frozen meat and poultry in storage on Dec. 31
Story Date: 1/24/2013
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Source: Rita Jane Gabbett, MEATINGPLACE, 1/23/13
Total frozen poultry supplies on Dec. 31, 2012 were up 5 percent from the previous month and up 16 percent from a year ago, according to USDA’s monthly Cold Storage report.
Total stocks of chicken were up 1 percent from the previous month and up 8 percent from last year. Total pounds of turkey in freezers were up 16 percent from last month and up 40 percent from Dec. 31, 2011.
Total red meat supplies in freezers were up 2 percent from the previous month and up 9 percent from last year.
Total pounds of beef in freezers were up 5 percent from the previous month and up 2 percent from last year.
Frozen pork supplies were down 1 percent from the previous month but up 14 percent from last year. Stocks of pork bellies were up 55 percent from last month but down 11 percent from last year.
J.P.Morgan analyst Ken Goldman said the report showed continuted to show manageable levels of meat inventories overall, with beef levels near their 10-year average, pork well above average (bearish for prices) and chicken below (bullish for prices).
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