News
End of March beef stocks at record monthly high
Beef in cold storage ended March at record levels.
The USDA says beef stocks were 536.887 million pounds, up 11% on the year due to record monthly production and slower demand, at least partially because of high prices. That included an all-time monthly high for boneless beef.
Pork came out at 487.19 million pounds, a jump of 8%, despite a year-to-year decline in production.
Total red meat supplies were 1.051 billion pounds, 8% above a year ago.
The total for poultry was 1.087 billion pounds, 1% less than last year, with a 5% increase in chicken to 777.454 million pounds canceled out by a 12% decrease in turkey to 308.201 million. The turkey total included record low monthly supplies of breasts and thighs.
The USDA’s cold storage numbers for April are out May 23rd.
