News

Red meat, poultry supplies shrink

The USDA’s cold storage numbers indicate solid demand for pork is keeping supply growth in check as production roars back into high gear. At the end of July, pork stocks were reported at 458.902 million pounds, a year to year drop of 25% despite record monthly pork production. That was also down slightly from the end of June when some analysts had been expecting a month to month increase. Beef came out at 439.315 million pounds, up 3% on the month and down 3% on the year. The total red meat supply was 948.398 million pounds, a decline of 15% from the end of July 2019.

The amount of poultry in cold storage at the end of July was slightly lower than a year ago at 1.408 billion pounds. That’s with a 6% decline in turkey stocks to 523.126 million pounds canceling out a 3% increase in the chicken supply at 876.863 million, even as turkey production rose and chicken production fell during the month. The USDA did report record high levels of several chicken parts, including breasts and breast meat, legs, and thighs and thigh quarters.