News

USDA reports record high poultry supplies

The USDA says beef in cold storage at the end of September 2018 was up on the year, but by less than what some analysts were expecting heading into the report.

Frozen beef supplies were reported at 508.560 million tons, 3% more than a year ago and up sharply from the five-year average, but with a smaller than average monthly build-up. Export demand has been slowed down by trade tensions and the rate of slaughter has been relatively high, but those have apparently been limited by good domestic demand.

Pork came out at 588.917 million pounds, 5% less than last year, slightly lower than anticipated and below the five-year average, because of solid domestic and export demand.

Red meat totaled 1.152 billion pounds, 1% lower than a year ago, but including new record monthly highs for veal and “other” types of red meat.

High production levels and slow demand pushed poultry to a new end of September record high of more than 1.530 billion pounds, with a 17% surge and new all-time monthly high for chicken at 959.418 million cancelling out a 1% decline in turkey to 566.620 million pounds. The chicken total included new record highs for breasts and breast meat, drumsticks, and wings.

The USDA’s livestock and poultry slaughter totals for September are out Thursday, October 25th at 3 Eastern/2 Central.