Red meat, poultry stocks up on year
U.S. chicken in cold storage hit a new monthly record. The USDA says that at the end of May, chicken stocks were up 12% on the year at 877.199 million pounds, with recent production levels and slow consumer demand pushing supplies higher. The monthly total included record levels of chicken breasts, breast meat, and drumsticks. Turkey was 1% above a year ago at 534.616 million pounds and total frozen poultry supplies increased 7% to 1.416 billion.
U.S. red meat stocks in cold storage also grew in May, as pork and total red meat production established new record highs for the month. The U.S. meat industry is also grappling with export demand uncertainties because of tensions with several major trading partners. The USDA says the red meat total was up 9% at 1.141 billion pounds, beef jumped 13% to 465.387 million, and pork was 6% higher at 621.736 million pounds. Boneless hams, pork ribs, veal, and other types of red meat all established new monthly records.
The USDA’s next set of cold storage numbers are out July 23rd.