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USDA: red meat, poultry stocks down on year

The USDA says red meat in cold storage at the end of September was down on the year, led by a drop in beef. Beef production has been slowing down in the second half of the year with some producers choosing to keep cattle out of feedlots until prices improve, while pork production is running at a record pace as the industry tries to meet demand expectations.

Beef in cold storage was down 8% on the year at 464.186 million pounds, while pork was up 2% at 598.899 million, with all red meat at 1.110 billion pounds, a decline of 4%. The USDA says the total loin supply was a monthly record at 39.622 million pounds.

Poultry in cold storage was 5% lower than last year at 1.447 billion pounds, with chicken and turkey stocks both tighter than a year ago at 914.971 million and 528.258 million pounds, respectively. The chicken category held all-time highs in breasts and breast meat, drum sticks, thigh meat, and paws and feet.

The USDA’s livestock and poultry slaughter numbers for September are out Thursday afternoon.