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Beef in cold storage drops

 

USDA reports red meat supplies at the end of August were down 7% on the year at 933.681 million pounds.

Beef came out at 343.664 million pounds, a 20% year to year drop, which was larger than expected due to the tight supply of market ready animals. Pork was pegged at 546.305 million pound, a little bit smaller than last year, but statistically unchanged. Analysts had been expecting a decrease.

Poultry supplies totaled 1.111 billion pounds, 14% less than last year, with chicken at 616.028 million pounds, down 13%, and turkey at 492.769 million pounds, a 15% decline.

USDA’s red meat and poultry production numbers for August are out Thursday.