News

Beef, pork supplies up sharply on year

 

The USDA reports beef, pork, and poultry supplies in cold storage on June 30th, 2015 were larger than year ago levels. Pork and beef supplies were also above pre-report estimates.

Pork came out at 632.209 million pounds, 18% more than this time last year. Market ready hog numbers have been higher than expected and that’s led to a build-up in pork supplies.

Beef was pegged at 467.136 million pounds, 30% above a year ago. Market ready cattle numbers are tight, but prices have been at or near record levels, limiting domestic and export demand.

Poultry totaled 1.191 billion pounds, up 13% on the year, with chicken increasing 22% to 722.477 million and turkey declining 1% to 458.089 million pounds.

USDA’s livestock and poultry estimates for June are out Thursday at 3 PM Eastern/2 PM Central.