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USDA cold storage numbers detail demand differences
The USDA’s cold storage report tells two different tales of demand for beef and pork.
The amount of beef in cold storage was the highest for any March 1st on record at 510.896 million pounds, down 2% on the month, but up 3% on the year, including an all-time monthly high for boneless beef at 474.243 million pounds.
Pork was reported at 491.481 million pounds, up 7% on the month, but down 24% on the year, with all the major categories showing year to year declines, except for boneless loins, which hit a record monthly higher. The red meat total of 1.038 billion pounds was 12% below year ago levels because of that drawdown in pork.
Poultry also reflected differences in demand.
Chicken came out at 469.238 million pounds, 6% lower than last month and 17% under a year ago, while turkey was pegged at 320.139 million pounds, 6% more than a month ago, but 6% less than last year, with a few of the storage categories notching record March 1st lows. Chicken thighs and quarters were the largest March 1st total on record, while whole turkey hens, legs, and mechanically deboned meat were the lowest for any March 1st.
Poultry in cold storage was 1.092 billion pounds, a decrease of 3% on the month and 14% on the year.
Poultry slaughter numbers for February are out Wednesday, with the red meat production report for last month scheduled for Thursday.
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