News

USDA: pork, beef stocks bigger than average

The USDA says pork in cold storage at the end of July topped 600 million pounds. At 601.790 billion pounds, that’s up nearly 50 million pounds on the year, but down almost 18 million from June, even with record monthly pork production during July and slower than expected export demand. The USDA says monthly highs were established for loins.

Beef came out at 455.102 million pounds, almost 50 million more than a month ago, but about 30 million below a year ago.

Both pork and beef were above their respective five-year averages of 574 million and 443 million pounds, according to Allendale Inc., and the red meat total was up 1% on the year at 1.105 billion pounds.

Poultry stocks were pegged at 1.411 billion pounds, with chicken and turkey both up on the month, but down on the year at 850.463 million and 557.017 million pounds, respectively.

The USDA’s next set of supply and demand estimates is out September 12th.