Market News

Pork stocks much smaller than expected

USDA’s monthly cold storage report shows much stronger than expected pork demand during March.

At the end of the month, pork supplies totaled 575.223 million pounds, down 12% on the month and 11% on the year, and well below the average pre-report guess of 629.8 million pounds. Beef came out at 404.754 million pounds, 1% less than a month ago and 21% below a year ago, pretty much matching what analysts were expecting. Total red meat supplies were 1.011 billion pounds, down 8% on the month and 14% less than this time last year.

Chicken was reported at 588.173 million pounds, a 6% year to year decrease, and turkey came out at 335.898 million pounds, down 16% on the year, with total poultry at 925.853 million pounds, 10% lower than a year ago.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!