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Red meat in cold storage hits new all-time high for month

The USDA reports the amount of red meat in cold storage on October 31st, 2015 was a new all-time high for the month at 1.161 billion pounds. That’s up 21% on the year and because of record pork production along with the relatively high price of beef limiting demand. The USDA has been collecting cold storage for red meat data since 1916. Pork supplies were up 13% at 602.656 million pounds and beef jumped 34% to 511.576 million.

Poultry stocks were also above year ago levels at 1.225 billion pounds, including a new record high for chicken at 865.685 million pounds. Cold storage data for chicken has been collected since 1939. Turkey supplies totaled 355.977 million pounds, down 9% from October 31st, 2014.