Red meat in cold storage swells


Red meat in cold storage swells

The USDA’s cold storage numbers for May reflect slower consumer demand for beef and pork.

Beef supplies at the end of May were a monthly record at 519.833 million pounds, a jump of 25% on the year, well above the 3% year over year increase in beef production.

Pork came out at 543.079 million pounds, 17% more than last year, following a 5% rise in production from May 2021 to May 2022.

Red meat stocks were 1.088 billion pounds, 20% larger than a year ago.

Chicken in cold storage was reported at 751.390 million pounds, 3% higher, while turkey supplies were 376.079 million pounds, 4% lower, including record monthly lows for turkey breasts, legs, and mechanically deboned meat.

Poultry stocks totaled 1.129 billion pounds, up 1% on the year.