Source: Rita Jane Gabbett, MEATINGPLACE, 5/24/16


USDA’s monthly Cold Storage report showed plentiful supplies of meat, which analysts expect to keep meat price inflation down over the summer months.

“We would view the results as generally supportive for beef prices, neutral to slightly negative for pork and negative for chicken,” wrote the analysts in the Daily Livestock Report.

USDA estimated total frozen poultry supplies on April 30, 2016 were up 4 percent from the previous month and up 4 percent from a year ago.

Total stocks of chicken were up 2 percent from the previous month and up 5 percent from last year. Total pounds of turkey in freezers were up 8 percent from last month and up 1 percent from April 30, 2015.

Total red meat supplies in freezers were up slightly from the previous month but down 8 percent from last year.

Total pounds of beef in freezers were down 3 percent from the previous month and down 7 percent from last year. The DLR analysts noted this decline came even as beef slaughter is up from a year ago. Stephens Inc. analyst Farha Aslam attributed the lower stocks, in part, to lower beef imports.  

Frozen pork supplies were up 4 percent from the previous month but down 9 percent from last year. Stocks of pork bellies were up 12 percent from last month and up 3 percent from last year. The DLR analysts said this build up in supplies was typical of this time of year and Aslam noted increased pork exports were helping demand.

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