USDA’s monthly Cold Storage report showed poultry, beef and pork stocks on June 30 were all much higher than a year ago, though stocks did decline compared to last month.
Poultry supplies on June 30, 2015 were up 1 percent from the previous month and up 13 percent from a year ago. Total stocks of chicken were down 2 percent from the previous month but up 22 percent from last year. Total pounds of turkey in freezers were up 4 percent from last month but down 1 percent from June 30, 2014.
Total red meat supplies in freezers were down 3 percent from the previous month but up 23 percent from last year.
Total pounds of beef in freezers were down 2 percent from the previous month but up 30 percent from last year.
Frozen pork supplies were down 3 percent from the previous month but up 18 percent from last year. Stocks of pork bellies were down 31 percent from last month and down 47 percent from last year.
Analysts in the Daily Livestock Report called the report neutral to bearish for both beef and pork prices and neutral for chicken prices.
The DLR, published by Len Steiner Inc. and Steve Meyer, noted the year-on-year figure increase reflects last year’s relatively low stocks. Also contributing to the stock build up was last winter’s port slowdown.