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U.S. red meat stocks down, dairy up
U.S. red meat supplies declined during June.
Good grilling season consumer demand drew down inventories, despite higher monthly production levels because of increased market ready numbers.
At the end of June 2016, red meat in cold storage was down 6% to on the year at 1.084 billion pounds, with a 5% decrease in beef to 451.233 million and an 8% drop in pork at 585.884 million pounds.
Dairy stocks were above a year ago, including a new monthly high for cheese to 1.252 billion pounds, on rising production levels and slowing export demand. Butter stocks jumped 27% to 326.025 million pounds.
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