News

Domestic pork supply rises

 

The USDA says pork stocks at the end of March 2018 were up on the year, while beef supplies were slightly tighter.

Pork ended last month with 611.048 million pounds in cold storage, a 12% year to year increase, as several months of record production and international trade uncertainties apparently took their toll. Month to month, pork supplies grew a little, they usually contract this time of year, as a late start to spring delayed a seasonal increase in retail featuring. At 463.971 million pounds, beef in cold storage was up 1% on the month and nearly unchanged on the year, with steady to lower production levels not enough to cancel out slower domestic and export demand.

Total poultry and chicken both hit new monthly records on slow demand and high production levels. Poultry totaled 1.338 billion pounds, a 12% rise from last year, with chicken at 871.341 million, 14% higher, and turkey at 462.872 million pounds, up 8%.

The amount of cheese in cold storage at the end of March was also a new all-time high, also on supply and demand issues. Cheese totaled 1.328 billion pounds, up 5% on the year, with American at 769.262 million, slightly lower, Swiss at 29.080 million pounds, a 12% increase, and other types of cheese at 529.287 million, up 14% and also a new end of March record high. Butter stocks came out at 273.552 million pounds, a little bit larger than last year.

The USDA’s next set of supply and demand projections is out May 10th.