News

Red meat, poultry stocks in cold storage tighten

Red meat and poultry stocks in cold storage at the end of January were below year ago levels. That’s due to a combination of lower rates of production and solid demand.

The USDA says red meat stocks were 964.835 million pounds, down 11% from last year, with an 11% drop in beef to 475.362 million pounds and 10% decline in pork at 468.037 million pounds.

Poultry came out at 1.136 billion pounds, 4% lower than the previous year, with a 7% decrease in chicken to 831.606 million pounds canceling out a 4% increase in turkey to 302.144 million pounds.

The USDA’s next set of annual meat supply and demand estimates is out March 8^th.