News

Total cheese, poultry stocks establish new records

 

The USDA says total poultry and cheese stocks in cold storage ended January at record levels. That’s the 14th month in a row with a new total cheese record and the third consecutive month for poultry. For both poultry and cheese, the big issues continue to be high production levels and steady to slow demand.

Year to year, cheese stocks increased 7% to 1.275 billion pounds, with American up 2% at 738.213 million, Swiss 19% higher to 28.478 million pounds, and “other” types 14% above a year ago at 508.508 million. Butter stocks were 223.875 million pounds, up 1%.

Poultry stocks jumped 12% to 1.253 billion pounds, including a 13% rise in chicken and 10% increase for turkey. Duck dropped 38%.

Total red meat stocks were 1% above a year ago at 1.114 billion pounds with a 7% decline in beef to 499.554 million thanks to strong demand and 8% rise in pork to 567.984 million pounds following record monthly pork production.

The USDA’s next set of supply and demand estimates is out March 22nd.