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Red meat, poultry in cold storage move higher

The USDA says red meat supplies in cold storage at the end of January were above year ago levels.

That’s due to a combination of higher red meat production in January of this year and slightly slower than anticipated demand.

The red meat total was up 9% on the year at 1.079 billion pounds, that included 532.733 million pounds of beef, 1% higher, and 517.727 million pounds of pork, an increase of 19%. That jump in pork included a 57% rise in the domestic pork belly supply.

Poultry in cold storage came out at 1.153 billion pounds, 13% above a year ago on a higher rate of production and at least some slowdown in demand. Chicken stocks were 866.111 million pounds, 12% higher, while turkey in cold storage was reported at 284.506 million pounds, up 17%.

The USDA’s next round of cold storage numbers is out in mid-March.