News

Meat stocks decline

USDA reports red meat and poultry supplies at the end of June were sharply below last year’s levels.

On June 30, 2014, red meat totaled 929.972 million pounds, down 5% from May 31, 2014 and 13% less than on June 30, 2013, mainly thanks to strong beef demand. Beef stocks were pegged at 357.759 million pounds, a decrease of 5% from last month and 26% from last year, and well below the five year average of 438 million pounds. Pork came out at 537.717 million pounds, 7% less than a month ago and 5% lower than a year ago, but above the five year average of 529 million pounds.

Poultry totaled 1.019 billion pounds, down 2% on the month and 18% on the year, with chicken at 556.830 million pounds, 18% lower than last year, and turkey at 460.414 million pounds, a 19% year to year decline.

USDA’s livestock and poultry slaughter numbers are out on Thursday.