Red meat in cold storage down on year, poultry up
Red meat in cold storage at the end of October 2023 fell sharply below the October 2022 total.
The USDA says red meat stocks of 907.355 million pounds were 14% below a year ago thanks to good demand and slower than a year ago production, especially for beef. Beef in cold storage was down 13% at 444.331 million pounds and pork in cold storage was 14% lower at 435.936 million. Bone-in ham and veal supplies were the lowest on record for October.
Poultry in cold storage was reported at 1.18 billion pounds, slightly above last year, due to a 13% rise in turkey to 319.699 million pounds, which canceled out a 4% decline for chicken to 857.529 million pounds. Total toms and total whole turkeys were record monthly lows.
The USDA’s next set of annual red meat and poultry supply and demand estimates is out December 8th.