Pork in cold storage down 6% on year
The USDA says domestic meat supplies in cold storage at the end of January were mostly below year ago levels.
The red meat total was 981.195 million pounds, with a 1% gain in beef to 526.435 million more than canceled out a 6% loss in pork at 428.498 million pounds, due to diverging demand and monthly slaughter rates.
The total for poultry fell 10% to 1.01 pounds, with chicken declining 7% to 764.024 million pounds and turkey dropping 19% to 243.848 million pounds, including new monthly lows for turkey breasts and legs, thanks to strong demand with January poultry production up 2% on the year.
The USDA’s next set of supply and demand estimates is out March 9th.