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Pork, beef stocks up on month

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U.S. red meat supplies increased from June to July.

The USDA says pork and beef production are both ahead of last year’s respective pacess and average cattle live weights have been well above a year ago.

Pork was up 2% on the month, but down 5% on the year at 599.932 million pounds. Allendale says that’s the first July increase in 10 years. The last July increase in their records was in 1970. The five year average for June to July is a 22 million pound decrease. Bellies were pegged at 50.647 million pounds, down 80% from last month, but up 114% from last year.

Beef stocks were 3% higher than a month ago and 2% above a year ago at 469.253 million pounds. The five year average is for a 10 million pound decline from June to July.

Red meat on July 31st, 2016 totaled 1.118 billion pounds, 3% above June 30th, 2016, but 2% below July 31st, 2015.

Red meat production numbers for July are out Thursday at 3 PM Eastern/2 PM Central.

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